Silverdell PLC Contract Awards (4405H)

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RNS Number : 4405H

Silverdell PLC

20 June 2013

Silverdell PLC

("Silverdell" or "the Company")

Contract Awards

Silverdell PLC (AIM: SID), the Specialist Environmental Support Services group, announces that it has been awarded a number of new contracts across the business worth GBP12.1m in total revenues to the Group.

The Group has been awarded a GBP3.2m demolition and decommissioning project, as prime contractor, for a large oil and gas customer in Calgary, West Canada. Revenues from the contract will flow from client billings, with no material capital requirements. Work will commence during Q4 and is expected to complete in 2014.

The Group has also won decommissioning and remediation works in the UK totalling GBP8.9m, for customers in both the public and private sectors. Public sector works include work in schools, colleges and hospitals as the government continues its major programme of refurbishment right across its portfolio of buildings in the UK. The private sector contracts include work for retailers, construction and oil and gas companies. The oil and gas contracts are with major multinational customers who continue their programmes of decommissioning and decontamination.

Of the GBP12.1m of contract wins, at least GBP2.0m is scheduled to fall in the current financial year.

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

"As a supplier of choice in high hazard, highly regulated environments, our expertise is in demand, both in the UK and overseas. We are particularly pleased to be awarded the prime contractor position on the decommissioning project in West Canada. We are increasingly taking on prime contractor positions as we move towards direct long-term relationships with our customers. These contract awards not only highlight our strong competitive advantage, but are also at margin levels consistent with achieving our expectations for the full year."

20 June 2013

ENQUIRIES:

 
 Silverdell                                                  Tel: + 44 20 7389 6800 
 Sean Nutley, Group Chief Executive 
 Ian Johnson, Group Financial 
  Director 
 
 finnCap (Nominated Adviser and                              Tel: + 44 20 7220 0500 
  Broker) 
 Matt Goode (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 
 
 

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The company news service from the London Stock Exchange

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