PHSC PLC

Pre-Annual General Meeting Information • Sep 8, 2014

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PHSC PLC - Pre-AGM Statement

PR Newswire

London, September 5

8 September 2014PHSC PLCPre-AGM Trading UpdatePHSC plc ("the Group"), a leading provider of health, safety, hygiene andenvironmental consultancy services and security solutions to the public andprivate sectors, is pleased to announce an update on its performance ahead ofits AGM due to be held today. At that meeting the Group Chief Executive,Stephen King, will be commenting on the Group's performance for the four monthsto the end of July 2014.There has been a small reduction in sales over that period of GBP60,000 dueprimarily to timing differences on one or two contracts and which areanticipated will be recouped in an improved second half.There has been an uplift in profitability of around GBP39,000 in the period aswe become more efficient over time in managing contracts within our acquiredbusinesses.Unaudited consolidated Group sales (and other income) per management accountsfor the four months to 31 July 2014 were GBP2,291,982 (GBP2,351,965 for thesame period last year) with EBITDA of GBP216,000 (2013: GBP177,000). Cash atbank as at 31 July 2014 was GBP706,000 from which GBP105,285 was subsequentlypaid as previously announced in relation to the final instalment for theacquisition of QCS International Limited ("QCS"). We have also been required toinvest heavily in additional stock as we gear up for some large contracted CCTVinstallations during the second half of the year.CEO Stephen King, commenting on Group performance, said: "Sales and EBITDA aregenerally in line with where we expected them to be at this stage. We continueto see 2014-15 as a period of consolidation. We continue to manage our cashreserves carefully ahead of the final payment for the acquisition of B to BLinks Limited which falls due in Q3. We have provided for a final payment ofGBP250,000 in our accounts although we anticipate, given the ongoing positivetrading performance of B to B, that this figure will be exceeded.I will expand on individual subsidiary performance when I report on our interimresults in mid-November.For further information please contact:PHSC plcStephen King 01622 717700Stephen.king@phsc.co.ukwww.phsc.plc.ukNorthland Capital Partners Limited (Nominated Adviser & Broker)Edward Hutton / Gavin Burnell 020 7382 1100John Howes / Alice Lane (Broking)