PHSC reveals rise in profits and revenues

1st Feb 2013 15:37

Health and safety services provider PHSC reported a rise in revenues and profits Friday, as the group reaped rewards from two acquisitions. The group made £3.85m in sales and income for the nine months to December 31st, up from £3.24m in the comparative period.Earnings before interest, taxes, depreciation, and amortisation (EBITDA) came to £332,800 after the deduction of £30,000 relating to one-off stamp duty and acquisition legal fees. That compared to £226,711 a year earlier.Chief Executive Officer, Stephen King, said business was boosted by strong performance from companies purchased during the period.In July the group bought Scotland-based QCS International, which specialises in environmental, and health and safety management systems. Two months later the group completed the acquisition of retail security and labelling company, B2B Links. "The benefits arising from our two acquisitions earlier in the year are beginning to come through," King said. "The group has increased total revenues by over £600,000 from the levels recorded at this stage in 2011/12, and more importantly has seen an improvement in profits which for the first nine months stood at £332,800 before depreciation, amortisation of goodwill and tax."He said the company expects to be marginally ahead in full year revenues for 2012/13 compared to previous annual results.Shares soared 8.89% to 24.50p at 16:00 Friday. RD