8 Feb 2008 15:09
PHSC plc8 February 2008TRADING UPDATETrading performance
The directors are pleased to announce consolidated Group sales and pre-tax profits (unaudited) for the nine months ended 31 December 2007.
Group sales and other income for the nine-month period totalled GBP 3,676,519, representing a 10 per cent increase on the comparative period last year (GBP 3,336,484 to the end of Q3 in 2006).
Pre-tax profits for the nine months to 31 December 2007 were GBP 555,108, which is 60 per cent above the comparative figure last year (GBP 384,043 to the end of Q3 in 2006).
Acquisition update
The proposed acquisition of Guardian Water Treatment Limited previously announced will not proceed. The sellers have taken the view that market conditions are presently unfavourable and their best interests will be served by remaining as an independent entity. The board of PHSC plc are disappointed by this decision, notified to it on 7 February 2008, and are continuing to seek alternative opportunities.
Stephen King, managing director, commented "Whilst we were keen to proceed with this acquisition we had spent little on due diligence as we always carry out as much as possible in-house with little or no disruption to our core business. It is important to note that we receive many acquisition opportunities and we look forward to reporting on any developments in due course. I am pleased with the performance of the Group over the first three quarters."
PHSC plcStephen King 01622 717700Stephen.king@phsc.co.ukwww.phsc.plc.ukRuegg & Co LimitedGavin Burnell 020 7584 3663gburnell@ruegg.co.ukHichens, Harrison & Co plcDaniel Briggs 020 782 7776
PHSC PLC
PHSC (PHSC)