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Silverdell set to surge, says chairman

13 Jun 12 Even before its acquisition of EDS last month, environmental services specialist Silverdell was on the rise.

Silverdell chairman Stuart Doughty
Silverdell chairman Stuart Doughty

In the six months to 31 March 2012, the first half of its financial year, Silverdell’s revenues rose 12% to £31.4m and gross profits were up 16% to £8.9m.

Although adjusted pre-tax profit was down marginally from £1.2m last time to £1.1m, chairman Stuart Doughty described the numbers as “a robust set of results achieved in challenging market conditions”.

Mr Doughty said: “Whilst market conditions were exceptionally difficult at the start of the year, and remain challenging, record revenues in March and strong revenues in April and May, allied to a record order book, mean that we remain confident of achieving expectations for the full year.

"I am delighted that after the period end we announced the successful acquisition of EDS which transforms the Silverdell business in terms of critical mass and positions it to take advantage of the industrial regulated market both here and overseas. This is fundamental to our objective of becoming a leading international player in the specialist regulated environmental and decommissioning market.

 "In short, we now have the scale, capability and customer base to go from strength to strength and we are about to embark on an entirely new stage in Silverdell's growth. We are excited about the future."

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