8th Sep 2014 08:16
LONDON (Alliance News) - PHSC PLC said Monday that its revenues and earnings before interest, tax, depreciation and amortisation for the four months to end-July "are generally in line with where we expected them to be at this stage" in a statement ahead of the company's annual general meeting.
The health, safety, hygiene and environmental consultancy services company said it had seen EBITDA of GBP216,000, up from GBP177,000 in the four months, on revenue of GBP2.3 million, down from GBP2.4 million in the previous year.
The slightly decline in revenues was due to timing differences on one or two contracts, which the company expects to recouped in an improved second half.
The company had case of GBP706,000 as at July 31, of which GBP105,285 has since been paid in relation to a final instalment for the acquisition of QCS International Ltd. Additionally, the company has been required to invest in further stock as it ramps up for large contracted closed circuit television installations in the second half.
Chief Executive Stephen King said in the statement that PHSC continues to see 2014-15 as "a period of consolidation".
Shares in PHSC were trading up 4.9% at 32.00 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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