18th Jul 2025 14:49
(Alliance News) - PHSC PLC on Friday described financial 2025 as "disappointing" after swinging to a loss in the year that ended March 31.
The Aylesford, England-based consultancy provides health, safety and security services. PHSC swung to a pretax loss of GBP127,419 in 2025 from a profit of GBP332,317 the year prior. Loss per share was 1.21 pence, compared with earnings per share of 2.19p in 2024.
The firm proposed no dividends, down from a total dividend of 2p per share the previous year. On Friday afternoon in London, its stock fell 14% to 12.00p.
Acting Chief Executive Nicola Coote said the slowdown reflected "a disappointing first half and challenges in the second half as the group entered a period of change following the departure of our longstanding former CEO."
Her predecessor Stephen King left the firm in January, 25 years after co-founding PHSC.
Sales revenue declined 15% to GBP3.2 million from GBP3.8 million. Earnings before interest, tax, depreciation and amortisation shrunk to GBP43,852 from GBP509,523.
Net assets were down 7.7% at GBP3.0 million versus GBP3.3 million in 2024. PHSC reported GBP435,000 in cash reserves at June 30, down from GBP488,000 on-year.
Coote noted on Friday: "We have been reviewing our portfolio of businesses, applying organisational changes to improve efficiency and have started to formulate and implement a revised growth strategy."
All three of PHSC's operating divisions struggled in 2025. The Safety branch saw "inconsistent" sales, which the firm attributed in part to underinvestment in technology. Systems was hit by the impact of "market saturation" in Scotland, leading the firm to write down the investment value of subsidiary QCS by GBP120,000. Security contended with changes in the retail sector, though PHSC said it is rolling out new products in response, such as improved security tags and AI-assisted cameras.
Coote said the impact of market volatility was "yet to fully crystalise".
"The group is therefore conserving cash, implementing cost efficiencies, investing prudently in upgrading business capability and re-engineering its client offerings to generate new business opportunities."
Still, PHSC does not expect strategic benefits to be fully evident for "at least" another 18 months.
By Holly Munks, Alliance News reporter
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