PHS lifted by acquisition spree

UK-based hand dryers-to-office pot plants group PHS posted a 20.6% rise in annual profits today after a major acquisitions spree boosted business.

The group, which spent £61.6m (€92.6m) on new companies in the last financial year, said pre-tax profits increased to £43.5m (€65.4m) – in line with analysts’ expectations.