- PHSC, an environmental consulting services company, made a loss before tax of £720,693 in the year to 31 March 2017, compared with a loss of £377,723 the previous year.

Group revenue increased from £7.04m to £7.16m.

For the first time, more revenues rose from security-related technology than from health and safety services.

The group said ongoing political uncertainty and the weaker sterling exchange rate was adversely affecting it, in particular the security-related subsidiaries that import materials priced in euros or US dollars.

The company saw an improvement in underlying EBITDA in the second half of 2016-17.

There may be further costs associated with restructuring the business but the board anticipates that the large trading losses are a thing of the past, the group said.

It has proposed the restructuring of the security-related companies into a single division.

The group had total revenues of £1.82m for the first quarter of 2017-18, an increase of around 5% on the first three months of last year.

Based on those revenues, EBITDA for the first quarter is showing as around £120,000 compared to a loss of £40,000 the year before.

At 9:47am: [LON:PHSC] PHSC PLC share price was -1.5p at 11p

Story provided by