Silverdell PLC Trading Statement (1820C)
2013年4月12日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMSID
RNS Number : 1820C
Silverdell PLC
12 April 2013
Silverdell plc
Pre close Trading Statement
Silverdell plc ("Silverdell" or the "Group"), the specialist
environmental support services group, announces a trading update in
advance of its interim results for the six months ended 31 March
2013 which will be announced on Wednesday 5 June.
Trading Performance
Trading has been in line with expectations with Group revenues
for the six months to 31 March 2013 expected to be at least GBP62m
(31 March 2012: GBP31.4m), up around 100% on last year. This
follows the acquisition of EDS Group Holdings Limited ("EDS") in
June 2012, the integration of which has been completed as
planned.
Good progress has been made across the Group's Canadian and
Australian operations with the Hydro Quebec site, acquired in
January 2013, performing in line with expectations. Market
conditions in the UK have remained challenging through the first
half.
The Group's order book at 31 March 2013 stood at GBP210m (31
March 2012: GBP133m) with circa GBP60m in additional revenues
confirmed for the second half of the current financial year. Recent
contract awards include a GBP2.5m decommissioning/remediation
contract for a chemical manufacturing facility in Scotland and
GBP1.5m of remediation works on a pet food plant in the Midlands.
We have a strong tendering pipeline of over GBP200m across our key
growth territories of Canada, Australia and continental Europe and
are currently at advanced stages on contracts valued at in excess
of GBP30m.
Adjusted EBITDA (before non-recurring exceptional costs,
amortisation and share based payment charges) for the period is
expected to be in the range of GBP4.5m-GBP5.0m (31 March 2012:
GBP1.8m), an increase of at least 150%.
Total net debt is expected to be GBP15m-GBP16m (31 March 2012:
GBP6.7m), of which net senior debt is expected to be GBP7m-GBP8m
(31 March 2013: GBP6.3m). This high point reflects the peak working
capital requirements of Hydro Quebec (which will reverse in the
second half of the year) and the acquisition of additional capital
plant and equipment in Canada.
Summary and Outlook
A strong order book gives the Board confidence for the future
and in particular its expectations for the financial year ending 30
September 2013, which remain unchanged. The Group has a strong
pipeline of work, and sees compelling opportunities for growth in
both domestic and overseas markets where it can build on the
foundations of strong customer relationships.
12 April 2013
ENQUIRIES:
Silverdell Plc Tel: + 44 20 7389
6827
Sean Nutley, Group Chief Executive
Ian Johnson, Chief Financial Officer
Tel: + 44 20 7220
FinnCap (Nominated Adviser and 0500
Broker)
Matt Goode (Corporate Finance)
Ben Thompson (Corporate Finance)
Victoria Bates (Corporate Broking)
College Hill Tel: + 44 20 7457
2020
Helen Tarbet
Mark Garraway
This information is provided by RNS
The company news service from the London Stock Exchange
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