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William Sinclair sees opportunities ahead

Published: 18 March 2008
Group says growth is well into its second phase.
William Sinclair says it sees opportunities ahead after the group made 'further good progress' with its strategic plans despite poor weather conditions in July and August of last year.

The group reported a turnover increase of £11.8 million (2006: £10.6m), an increase of 11.3% for the six months ended December 31, 2007, and pointed to improvements in its performance including sales at Freeland, a green waste recycling business bought in July 2007 to grow its commercial business.

"Without these sales, turnover was slightly lower reflecting our continuing emphasis on more profitable business," it said in its interim statement.

Across the first half of the year it recorded a loss before tax of £1.33 million, slightly higher than the £1.25m in the same period of 2006.

It added that despite peat harvest starting well, unprecedented rainfall in July and August meant its peat extraction during these months was well below previous levels and slightly less than 50% of budget.

However, Sinclair says it has sufficient supply for the coming season.

The announcement also confirmed details of the acquisition of Joseph Metcalf, whose integration into the Sinclair portfolio is 'going well'.


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