PHSC falls as company warns of contracts drying up

5th Aug 2015 10:46

(ShareCast News) - Shares in PHSC fell after the company warned in its full year result it would be hard to replace several lucrative one off projects.Health and hygiene manger PHSC's stock fell by 3.77% to 29.35p at 0957 BST.The company reported full-year profit before tax down to £349k from £494k.Group revenues were up by 2% to £7.731m compared with £7.594m, which the company said was boosted by it diversifying its offering.PHSC's earnings per share were down to 2.75p from 4.24p, and the company proposed a final dividend of 1.5p.The company said reduced government funding of enforcement authorities reduced spend on the compliance services it provides.In a statement, PHSC said it was coming to the end of contracts with B to B and Adamson's Laboratory Services."Whilst we remain confident that core revenues from our regular and retained clients will underpin the coming year's performance, we recognise that it is unlikely that we shall be able to replicate the exceptionally favourable circumstances that occurred last year."The company has not committed to any acquisitions but said it was prepared to pursue the right opportunities should they arise.