30 September 2019
PHSC plc ( “the Group”), a leading provider of health, safety, hygiene and environmental consultancy services and security solutions to the public and private sectors, is holding its Annual General Meeting at 10.00 a.m. today at The Old Church, 31 Rochester Road, Aylesford, Kent ME20 7PR. At the meeting, the Group Chief Executive, Stephen King, will make the following statement:
“Management accounts are now available for the five months to the end of August 2019. These figures, which are unaudited and subject to amendment, show total Group revenues of £1.79 million and EBITDA of £126,700. At the same point in the previous year, EBITDA of £107,400 had been generated from revenues of £2.4 million. The decrease in revenues is attributable to the reduced sales of security systems and accessories to the retail sector by our B2BSG Solutions subsidiary. The increase in earnings is a reflection of lower overheads within the Group and premises-related savings, now that subsidiaries are consolidated into four operational premises compared with the seven premises at this point in 2018.
The cash position remains strong at £613,000 as at 27 September 2019. Last year we reduced our banking facility with HSBC to £150,000 and this has remained unused to date.
We expect to announce our unaudited interim results for the period to 30 September 2019 in early December 2019, together with detailed commentary on individual subsidiary performances.”
For further information please contact:
Stephen King 01622 717 700
Strand Hanson Limited (Nominated Adviser) 020 7409 3494
Richard Tulloch/Eric Allan
Novum Securities Limited (Broker) 020 7399 9427
PHSC plc, through its trading subsidiaries Personnel Health & Safety Consultants Ltd, RSA Environmental Health Ltd, QCS International Ltd, Inspection Services (UK) Ltd and Quality Leisure Management Ltd, provides a range of health, safety, hygiene, environmental and quality systems consultancy and training services to organisations across the UK. B2BSG Systems Ltd offer innovative security solutions including tagging, labelling and CCTV.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").