shares in phsc plc fell in opening trading on tuesday after it said that it swung to a pretax loss for fiscal 2022 on higher cost of sales and impairments shares at 0713 gmt were down 40 pence or 15 at 225 pence the consultancy services and security solutions provider posted a pretax loss for the year ended march 31 of 577798 pounds 707860 compared with a pretax profit of gbp189988 the year before cost of sales increased 99 to gbp19 million and goodwill impairments primarily related to its security division rose to gbp793418 from gbp250000 the year prior revenue however rose to gbp36 million from gbp33 million in fiscal 2021 underlying earnings before interest taxes depreciation and amortization slipped to gbp274044 from gbp504608 it said the board declared a final dividend of 05 pence bringing the total for the year up to 10 pence flat on fiscal 2021 phsc said its costs have been rising across all areas and an increasingly competitive market was squeezing margins with limited scope to pass on costs to clients despite the difficult trading environment we are confident that the group can remain profitable and cashgenerative throughout the year the company said