SID Silverdell

TIDMSID

RNS Number : 1505D

Silverdell PLC

11 May 2012

Silverdell PLC

("Silverdell" or "the Company")

Contract Awards

Silverdell PLC (AIM: SID), the Specialist Environmental Support Services group, today announces that it has been awarded a number of contracts in May totalling GBP3.58 million, including a contract in Canada for an International Specialist Material Company which will deliver GBP1.25 million of revenues in the second half of the current financial year. The contract is an important step in Silverdell's broader strategic initiative to penetrate a number of regulated international markets. Under the terms of the contract the company will carry out asbestos removal works as sole provider to a major decommissioning project.

In addition, Silverdell is pleased to confirm that the GBP0.5m of major rail infrastructure works in the South East, announced on 3 April 2012 is likely to be for a materially higher contract value and is now anticipated to form part of a larger framework contract to include up to 72 stations over the next 7 years.

These contracts further boost the Company's order book which, as of 31 March 2012, stood at a record high of GBP133 million, GBP33 million of which relates to the second half of the current financial year (2011 H2 order book was GBP24 million and H2 2011 revenues of GBP32 million reported) underpinning the Board's confidence in meeting full year expectations.

Sean Nutley,Chief Executive Officer for Silverdell Plc, commented:

"These contracts demonstrate the ongoing successful implementation of our growth strategy. The work in Canada marks an important first stage in our penetration of certain international markets in which asbestos management is highly regulated. Canada has a great deal of potential in this regard. The further UK Rail framework contract continues to enhance the quality of our earnings and shows the strengthening of our relationships with major customers in sectors where there is significant and ongoing investment. We see compelling opportunities to continue to expand in the UK Rail sector.

"Our record order book gives us a high degree of visibility and, consequently, we continue to look forward to the future with confidence."

11 May 2012

ENQUIRIES:

 
 Silverdell                                                         Tel: + 44 20 7389 6800 
 Sean Nutley, Group Chief 
  Executive 
 Ian Johnson, Group Financial 
  Director 
 
 finnCap                                                             Tel: + 44 20 720 0500 
 Marc Young (Corporate Finance) 
 Ben Thompson (Corporate Finance) 
 Victoria Bates (Corporate 
  Broking) 
 
 College Hill 
 Helen Tarbet                                                       Tel: + 44 20 7457 2020 
 Mark Garraway                                                           + 44 78 2560 9737 
 
 

This information is provided by RNS

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