SNCL Sinclair Will.

    RNS Number : 2098E
  Sinclair (William) Holdings PLC
  25 September 2008
   
25 September 2008
William Sinclair Holdings plc
(*William Sinclair* or the *Company*)
Trading Update
William Sinclair Holdings Plc is one of the UK's leading producers of commercial horticulture and branded garden products. The Company
provides peat based and non peat growing media and fertiliser products to the retail and commercial sectors.
The Company announced on 28 July 2008 that it had seen significantly escalating costs from a number of its suppliers, particularly in the
areas of packaging and products such as fertilizers and oil. In addition the peat harvest in late June and the first half of July was very
poor due to the adverse weather conditions at that time.
Since that announcement the weather has continued to affect the Company*s performance with ongoing rain at the Company*s various peat bogs
in England and Scotland leading to the Company*s peat harvest being significantly below expectations. The consequences of this are twofold:
1    The Company will not fully recover into stock the annual costs of its peat production.  This will depress the reported results for the
period ending 30 September 2008.
2    The Company's stocks of peat for the 2009 selling season are low and the Company will need to purchase in more expensive alternative
supplies to meet its customers' needs.
The Company now expects profits in the 15 month period to 30 September 2008 to be significantly lower than market expectations and
accordingly the Company*s final dividend will be significantly below last year*s final dividend of 2.5p per share.
Management is taking action to strengthen its trading position for the year to September 2009 by putting in place significant price
increases.  The Board continues to believe that market conditions are adversely affecting all suppliers in the industry and the Company
continues to be the best placed supplier for the year ahead.
 
Enquiries
 
William Sinclair Holdings Plc                         Tel: 01522 537561
Bernard Burns, Chief Executive
Peter Williams, Finance Director
 
Arbuthnot Securities                                      Tel: 020 7012 2000
Alastair Moreton
Alasdair Younie
 
Madano Partnership                                       Tel: 020 7593 4000
Mark Way
www.madano.co.uk
 
 
About William Sinclair
William Sinclair's well established brands include J Arthur Bower's, Silvaperl and New Horizon - the leading brand in the fast growing peat
free garden compost and organic plant foods sector.
 
William Sinclair's customers include national accounts such as Wyevale, Wilkinson, Tesco, Homebase and B&Q as well as an extensive range of
independent garden centres. The Company has strong asset backing, is profitable and is quoted on the Alternative Investment Market.
 
 
 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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