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Silverdell suspends share dealing Ι Construction Enquirer
Demolition, scaffolding and asbestos removal specialist Silverdell has suspended trading in its shares on the Stock Exchange following fears over its finances.
The company said today: “Silverdell has requested a suspension of its shares from trading pending clarification of the Group’s financial position.
“Further announcements will be made as and when appropriate.”
A winding-up order against the firm’s trading subsidiary Kitsons Environmental Europe was lodged in the High Court by a subcontractor last month.
The firm closed four regional offices in June 2012 and paid £15m for specialist industrial demolition contractor EDS in May 2012.
The deal was funded through an £8.8m share placing.
Latest results for the six months to March 31 2013 showed revenue up 103% at £63.9m (2012:£31.4m) and adjusted operating profit up 157% at £3.6m (2012: £1.4m).
Chairman Stuart Doughty said at the time: “The outlook remains positive and we remain confident in the full year out-turn.”
Demolition, scaffolding and asbestos removal specialist Silverdell has suspended trading in its shares on the Stock Exchange following fears over its finances.
The company said today: “Silverdell has requested a suspension of its shares from trading pending clarification of the Group’s financial position.
“Further announcements will be made as and when appropriate.”
A winding-up order against the firm’s trading subsidiary Kitsons Environmental Europe was lodged in the High Court by a subcontractor last month.
The firm closed four regional offices in June 2012 and paid £15m for specialist industrial demolition contractor EDS in May 2012.
The deal was funded through an £8.8m share placing.
Latest results for the six months to March 31 2013 showed revenue up 103% at £63.9m (2012:£31.4m) and adjusted operating profit up 157% at £3.6m (2012: £1.4m).
Chairman Stuart Doughty said at the time: “The outlook remains positive and we remain confident in the full year out-turn.”