First set of results since listing on Alternative Investment Market sees Asbestos specialist generate £38.5m turnover

Asbestos remediation firm Silverdell has posted a pre-tax profit of £2.2m in its first set of results posted on the Alternative Investment Market.

With a turnover of £38.5m for the year ended 30 September 2007 chairman David Williams said trading in the first year had been satisfactory. He added that there was “plenty of potential ahead” for the further development of the company.

During the year the company acquired remediation companies Redhill Analysts, Kitsons Group and Swift Asbestos.

The company said it planned to “leverage the benefits” of the new group structure and had already submitted tenders for work on a group basis.

The company listed on AIM as Bow Lane Capital in April 2006. It said share prices had doubled since the original acquisition of Silverdell in July 2006.