First dividend hope at Silverdell

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Specialist environmental support services group Silverdell has unveiled plans to pay a maiden dividend after seeing revenues increase by more than 30 per cent, to around £78 million.

The Alternative Investment Market listed company bought Sheffield-based award-winning international plant dismantling and decommissioning specialist EDS Group Holdings for £19 million in June.

Silverdell says in a trading update that EDS performed strongly in the final quarter of the year to the end of September and made an immediate contribution, with “significant synergies and global cross-selling opportunities, particularly in Australia, Canada and the UK, being realised.”

Chief executive Sean Nutley said: “The acquisition of EDS has given us a unique and compelling combined service offering and an ideal platform for future growth. Our decision to recommend a maiden dividend reflects our confidence as we look to the coming year and beyond.

“The future for Silverdell looks highly promising, with the opportunity now to build on strong UK relationships to grow our business abroad.”