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Silverdell - Eps on track to rise 55% this year

February 2008

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

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Asbestos removal firm Silverdell announced a strong set of finalresults for the year ended 30 September with operating profit beforeinterest and goodwill of £4.3m on turnover of £38.5m. Adjusted eps was7.9p. Interest payable was £0.8m leaving profit covering debt interestby a comfortable 5.4 times. Silverdell (UK), the original asbestos remediation business, enjoyeda barnstorming year with turnover increasing 42% to £30.5m andoperating profit rising by 369% to £4.6m before a share of centralcosts and this was well ahead of its original expectations. This sideis clearly benefiting from Government legislation forcing employers toproperly assess and manage the risk from this public health hazard andSilverdell has continued to wi ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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