PHSC pretax profit narrowly falls; declares unchanged interim dividend

(Alliance News) - PHSC PLC said on Tuesday its interim pretax profit narrowly fell while it declared an unchanged interim dividend to its shareholders.

The Kent-based health, safety, hygiene and environmental consultancy services provider said its interim pretax profit in the six months that ended September 30 was GBP132,000, down 0.8% from GBP133,000 a year ago.

Its interim revenue also fell by 2.3% to GBP1.68 million from GBP1.72 million, but PHSC said it expects to remain cash generative.

PHSC declared an interim dividend of 0.5 pence to be paid on January 13, 2023, unchanged from a year ago. It said it had sufficient cash reserves to enable the dividend payment, declaring GBP691,000 in cash reserves, down 23% from GBP902,000.

It added all of its subsidiaries were impacted by rising costs across many areas of the group's business, particularly noting travel and accommodation charges.

Shares in PHSC were down 11% to 16.02 pence in London on Tuesday afternoon.

By Greg Rosenvinge; [e-mail]

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