Asbestos removal firm Silverdell will experience a reduced turnover for the year ending 30 September 2010, despite winning new work in the utilities and nuclear sectors.
The firm said its full year turnover will be slightly lower than in 2009, but with 鈥渁 significant improvement in profitability鈥�. Gross margins are expected to be around 25%.
Silverdell said it had 鈥渨on a number of significant new framework contracts during the year and these, along with revenue derived from the utilities, nuclear and industrial segment have underpinned the revenue performance against a difficult market backdrop鈥�.
The consulting division also 鈥減erformed well鈥� in the second half of 2010.
Net debt at 30 September 2010 is expected to be slightly lower than a year ago with more than 拢1.7m of its bank loan having been repaid during the year.
Chairman Stuart Doughty said: "Silverdell has continued to win market share in the UK and this trend is expected to continue, with a good level of enquiries from the utilities, nuclear and industrial sector together with some promising overseas opportunities.
鈥淭he improvement in the business that was shown in H1 has continued into H2, and the Group looks forward to the future with confidence and in its ability to grow, both organically and by acquisition."
Silverdell will announce full year results on 30 November 2010.
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