SID Silverdell

TIDMSID

RNS Number : 3201Y

Silverdell PLC

29 February 2012

Silverdell PLC

("Silverdell" or "the Company")

Trading Update

Silverdell PLC (AIM: SID), the Environmental Support Services group, is pleased to announce the following trading update in advance of its AGM on Wednesday 29(th) February 2012.

Since 31 October 2011, the forward order book has increased by 10% to GBP117m, driven by the Company's growing reputation as a market leader in its field, a broader service offering and a continued focus on long-term, framework contracts with large customers.

Silverdell has secured a number of new contracts including a GBP700,000 contract in the oil and gas sector. The Group has been chosen as sole provider for the removal of asbestos for a major UK airport and two railway infrastructure providers, in total amounting to c. GBP1m per year for five years, with one of the rail contracts increasing to GBP2m per year for six years. The Group has also been selected as one of five service providers to a group of housing associations in the South and South West valued at over GBP4.5m together with a further GBP1.1m of general asbestos removal contracts for a number of key clients where Silverdell has long term relationships.

The Group remains confident of meeting year end expectations.

Sean Nutley, Chief Executive, commented:

"Our strategy is to target blue chip customers in high growth markets, and to seek out contracts which provide a high level of earnings visibility. The quality of our order book, which is now significantly weighted towards framework contracts over project work, reflects this. At the same time, we are broadening our services beyond our core asbestos removal business into high value regulated sectors which remain buoyant despite economic pressure.

"We remain very confident in Silverdell's prospects for growth, both this year and beyond."

29 February 2012

ENQUIRIES:

 
 Silverdell                            Tel: + 44 20 7389 6800 
 Sean Nutley, Group Chief Executive 
 Ian Johnson, Group Financial 
  Director 
 
 finnCap                               Tel: + 44 20 7523 8000 
 Marc Young 
 
 College Hill 
 Helen Tarbet                          Tel: + 44 20 7457 2020 
 Mark Garraway                               +44 78 2560 9737 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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