PHSC swings to loss after year of change
By Josh White
Date: Friday 18 Jul 2025
(Sharecast News) - PHSC reported a statutory loss of £0.13m for the year ended 31 March on Friday, swinging from a profit of £0.25m the prior year, as revenues declined and the company continued to navigate a period of leadership transition and strategic realignment.
Group revenue fell to £3.22m from £3.78m, with EBITDA sharply lower at £0.04m, down from £0.51m.
Cash reserves stood at £0.44m at year-end, compared to £0.49m a year earlier.
No interim dividend was paid during the year, and no final dividend was proposed, in contrast to the 2p per share distributed in the prior year.
The AIM-traded firm said the results followed a year of significant change for the health, safety and security consultancy group.
Longstanding chief executive officer and chair Stephen King stepped down in January, with co-founder Nicola Coote assuming the role of acting CEO.
An interim CFO, Raymond Holt, had been brought in to assist with the formulation of a revised strategy, and the company said it was undertaking a full strategic review of its purpose, offerings, and future direction.
New non-executive director Frank Moxon joined the board following the departure of Graham Webb.
Moxon brought more than three decades of corporate finance experience across international markets and sectors.
"The past financial year has been challenging and one of change for the group, [but] it has also provided the opportunity for some positive developments," said Lorraine Young, who became non-executive chair in October last year.
"Good progress is being made" on the strategic review, she added, noting that the board has held several joint planning sessions with the senior leadership team to shape the company's future.
On the decision to withhold a dividend, Young said: "We recognise that this may be disappointing for investors ... however, given the general macroeconomic uncertainties and current market challenges we consider it prudent to retain cash ... and to provide investment in targeted initiatives to promote business growth for the future."
The company said its full annual report and notice of its annual general meeting would be sent to shareholders in early August, with the meeting scheduled for 25 September.
At 1252 BST, shares in PHSC were down 14.29% at 12p.
Reporting by Josh White for Sharecast.com.
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