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Wed May 22 2024

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Silverdell hits record high

11 May 12 The order book of asbestos removal specialist Silverdell has reached £133m, which is a record high for the company.

Already in May the company has booked £3.6m of new work.

Recent contract wins for Silverdell include an asbestos removal contract in Canada for an international specialist material company that will deliver £1.25m revenue in the second half of the current financial year. The contract was described as “an important step in Silverdell's broader strategic initiative to penetrate a number of regulated international markets”.

Silverdell has also been boosted by a rise in workload for Network Rail. A £500k contract at a southeast rail station won last month is now set to rise significantly in value and form part of a larger framework contract to include up to 72 stations over the next seven years.

CEO Sean Nutley said: "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."

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