7th Sep 2015 07:06
LONDON (Alliance News) - PHSC PLC Monday said it saw a fall in earnings before interest, tax, depreciation and amortisation for the four months to end-July as a result of the conclusion of two large contracts leading to an expected reduction in sales.
The consultancy and security services company said in a statement ahead of its annual general meeting that its Ebitda for the four months was GBP66,531, down from GBP216,000 a year before, on sales of GBP2.13 million, compared to GBP2.29 million.
"Management are continuing to focus on replenishing the order book, and filling the spare capacity caused by some large orders having been completed," said Chief Executive Officer Stephen King in the statement. "Good progress has been made, and we have a number of promising opportunities in the pipeline."
Alongside efforts to increase revenue, the company said it is considering cost base reductions in each of its subsidiaries.
The company said it has been "made aware" of several businesses that are available for acquisition, and whilst some discussions are ongoing, there is "nothing concrete to report at this stage."
It expects to provide further details on the performance of its individual subsidiaries with its interim results, which it expects to report at the end of November.
Shares in PHSC were down 2.5% at 27.30 pence shortly after market open Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
PHSC