StockMarketWire.com - Health and environmental services consultancy PHSC said it expected revenue in the year through March to fall due to the closure of the asbestos-related operations of Adamson's Laboratory Services.

Revenue was expected to fall 2.1% slightly to £7.01m, with Adamson's revenues being around £440k lower than in the previous year.

The company said it achieved positive Ebtida of around £184k, before allowing for £47k of redundancy costs associated with the closure of Adamson's.

Other ongoing financial consequence of the closure include the costs of extricating the group from long-term leases for various services, plant and equipment.

In addition, certain owned plant and equipment would be written off, the total cost of which is not yet known.

Run-off insurance costs would also continue to be incurred for some years.

On the positive side, PHSC said the freehold of ALS’s unoccupied premises in Essex were in the process of being sold for £320k, representing a sizeable premium to the book value of £170k.


At 8:22am: [LON:PHSC] PHSC PLC share price was 0p at 10.5p



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