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Silverdell

  • BY: Andrew Hore |
  • POSTED: 01/10/2010 |

Asbestos removal firm Silverdell has agreed £5.5m of secured credit facilities with Barclays.

These facilities last until the end of March 2014. A £2.75m overdraft facility remains in place. This will enable Silverdell to finance acquisitions.

Net debt was £4.7m at the end of September 2009 and it is expected to be slightly lower at the end of September 2010.

A pre-close trading statement said that Silverdell’s full year profit will be much better than last year even though revenues were slightly lower during the year. Collins Stewart had been forecasting full year profit of £4m.

Silverdell is winning market share and enquiry levels are good.

The figures for the year to September 2010 will be published on 30 November.

At 8.5p a share, Silverdell is valued at £12.9m.

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