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  • BY: Andrew Hore |
  • POSTED: 06/08/2015 |

PHSC boss Stephen King bought 11,900 shares at 27p a share following its results announcement. 

This takes the health, safety and environmental services provider’s chief executive stake to 25.3%. The PHSC share price fell 1p to 26.5p compared with an NAV of 52p a share or 17p a share excluding goodwill.

In the year to March 2015, revenues were 2% higher at £7.73m but pre-tax profit has fallen from £655,000 to £503,000. However, if exceptional costs of £263,000 are excluded then the pre-tax profit is £766,000. There was £739,000 generated from operations but most of this was used on paying contingent consideration on past acquisitions. There is no more contingent consideration to pay. Net cash improved to £462,000 at the end of March 2015. 

A 1.5p a share final dividend is payable on 30 September – ex-dividend date is 20 August.

The main improvements in underlying profit came from security business B to B Links, partly thanks to a large one-off contract, and consultancy business Quality Leisure Management. There was a dip in profit from Adamson’s Laboratory Services and this business will lose an asbestos contract in the first quarter. It will be difficult to maintain the level of underlying profitability of PHSC.

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