AGM Statement

PHSC

07/09/2011 07:36

7 September 2011

                                   PHSC PLC

                                (The "Company")

                                 AGM STATEMENT

At today's Annual General Meeting the Group Chief Executive, Stephen King will
be updating shareholders as to the Group's performance for the period to end of
July 2011.

Unaudited consolidated Group sales (and other income) for the period 1 April to
31 July 2011 were GBP 1,345,000 (GBP 1,548,000 for the comparative period last
year) with EBITDA of GBP 12,000 (GBP 35,700 for the comparative period last
year). Excluded from the current figure we calculate that there is also an
unrecognised uplift of approximately 41,000 relating to work in progress (WIP)
at Adamson's Laboratory Services Limited. No equivalent comparisons are
available for the WIP uplift at the same period last year, as a calculation was
not made at that time.

Commenting on Group performance, CEO Stephen King said: 'This information is
released ahead of today's Annual General Meeting to give shareholders an
understanding of the current state of affairs. We remind investors that Group
profits have historically become stronger as each year reaches its end and we
believe this will continue to be the case in 2011/12.

We have seen some deterioration in trading conditions since the year-end, and
are considering how best to counter the effects that this will otherwise have
on revenues and profits. One decision already taken is to relocate our
subsidiary Envex Company Limited from its current address in Berkshire. With
effect from the end of October, that company will work from the Essex offices
of Adamson's Laboratory Services (ALS). There will be some premises-related
savings arising.

Our largest subsidiary, ALS, has a strong order book currently standing at
around 800,000.

Cash at bank as at 31 July was 1,039,000 and despite payment of over 200,000
by way of dividends, if approved at today's AGM, the Group is forecast to end
the year with similar cash levels.

I look forward to providing a fuller statement at the time of announcing our
interim results, for the period ending 30 September 2011.'

For further information please contact:

PHSC plc
Stephen King                                              01622 717700
Stephen.king@phsc.co.uk
www.phsc.plc.uk

Northland Capital Partners Limited
Gavin Burnell / Rod Venables                              020 7796 8800
Katie Shelton (Broking)

END