Trading Update
October 07 2010 - 2:00AM
UK Regulatory
TIDMSNCL
RNS Number : 9879T
Sinclair (William) Holdings PLC
07 October 2010
7 October 2010
William Sinclair Holdings PLC
('William Sinclair' or 'the Company')
Trading Update
William Sinclair is pleased to announce the following trading update ahead of
its full year results which are due to be announced on 5 January 2011.
Trading for the 12 months to 30 September 2010 is in line with the Board's
forecasts. After good early peat harvests in April to June the rain in July and
August slowed harvest operations. Nevertherless, the Company succeeded in
building comfortable levels of peat stock for the season ahead. The Company
also achieved satisfactory margin improvements from its on-going efficiency
programme.
The peat-free market continued to expand during 2010 increasing a further 23%
during the year. Our New Horizon compost, the clear brand leader in the market,
benefited from this continued growth and built on its 44% like-for-like growth
experienced during the first half of the year.
Demand for Sincroboost Plus, our peat substitute made from renewable materials,
outstripped supply. Production of Sincroboost Plus is not affected by climatic
conditions and supply of this highly sought after product is being increased in
anticipation of further increased demand.
During the year the Company has developed drying technologies to reduce the
impact of adverse weather on peat harvesting. This has helped create reliable
streams of this growing material and so ensure we are able to meet increasing
future demand for our products.
Discussions remain ongoing with Natural England over Bolton Fell compensation
and we hope to be able to provide a further update in due course.
The Board is encouraged by improvements throughout the year and believes the
Company is the best placed supplier of peat and peat-free products in the
market.
For further information:
William Sinclair Holdings Plc Tel: 01522 537561
Bernard Burns, Chief Executive
Peter Williams, Finance Director
Arbuthnot Securities Tel: 020 7012 2000
Andrew Kitchingman
Ben Wells
About William Sinclair
William Sinclair Holdings PLC is one of the UK's leading producers of commercial
horticulture and branded garden products. Its 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 The Garden Centre Group
(formerly Wyevale), Wilkinson, Homebase and B&Q as well as an extensive range of
independent garden centres.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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