PHSC PLC

Earnings Release • May 18, 2015

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PHSC PLC - Trading Update

PR Newswire

London, May 18

18 May 2015 PHSC PLC 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 for thefinancial year ended 31 March 2015.These indicative figures are per management accounts, currently in the processof audit.Consolidated Group revenue for the period was around GBP 7.7m representing aslight increase over 2013-14 (GBP 7.6m).EBITDA prior to the cost of acquisitions rose by around 11% to GBP 0.81m,compared with GBP 0.73m last year.Under accounting rules the earn-out bonuses of GBP £0.233m paid in connectionwith acquisitions have been charged to the Profit and Loss account. Despitethis, net assets rose toGBP 6.57m at year end (2014: GBP 6.40m), including cashof GBP 0.50m.Stephen King, CEO, said: "The financial audit is underway and, subject to anyadjustments arising from that process, the Board is pleased to announce that wehave achieved further profit growth over a period when total revenues werealmost flat. A major factor, as indicated in my Interim Report, was that our Bto B Links Limited subsidiary enjoyed the benefit of a large one-off order inQ2 and this led to an economy of scale that enabled us to deliver highermargins.A consequence of the resultant enhanced profit crystallising in H1,during the acquisition earn-out period, was an increased bonus payment fallingdue to the vendors. This was outlined in the Interim Report, where I also notedthat this additional payment would have to be written off in line with therequired accounting procedure."The Group successfully negotiated a cashflow pinch-point during Q3 when finalpayments became due for B to B Links Limited, and ended the year with GBP 0.5mof cash. There are now no further payments due in connection with theacquisition of any Group subsidiary."We expect to issue our Preliminary Announcement of Results towards the end ofJuly 2015 and at that time I will comment in more detail about the contributionof each Group company"For further information please contact:PHSC plc 01622 717700Stephen KingStephen.king@phsc.co.ukwww.phsc.plc.ukSanlam Securities UK Limited (Nominated adviser and broker) 020 7628 2200Lindsay Mair/James ThomasAbout PHSCPHSC plc, through its trading subsidiaries Personnel Health & SafetyConsultantsLtd, RSA Environmental Health Ltd, Adamson's Laboratory ServicesLtd, QCSInternational Ltd, Inspection Services (UK) Ltd and Quality LeisureManagementLtd provides a range of health, safety, hygiene, environmental andqualitysystems consultancy and training services to organisations across theUK. B to BLinks Ltd offers innovative retail security solutions includingtagging,labelling and CCTV.