PHSC PLC on Tuesday announced the start of the share buyback programme, referencing its swing to an annual profit for the year ended March 31, which it published last week.

The Kent-based health, safety, hygiene and environmental consultancy services provider said it is buying back up to 1.2 million shares or up to a gross amount of £200,000, whichever is the lower.

The buyback price is 18.5 pence per share, a discount from the last disclosed net asset value per share of around 30.7p as at March 31.

PHSC shares jumped 37% to 25.40 pence each on Tuesday morning in London.

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