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Share Name Share Symbol Market Type Share ISIN Share Description
William Sinclair Holdings LSE:SNCL London Ordinary Share GB0009665661 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 9.375p 0.00p 0.00p - - - 0 05:00:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Household Goods & Home Construction 46.2 2.0 24.0 0.4 1.62

Sinclair (William) Holdings PLC Trading Update

05/07/2012 7:00am

UK Regulatory (RNS & others)


William Sinclair (LSE:SNCL)
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RNS Number : 9456G

Sinclair (William) Holdings PLC

05 July 2012

5 July 2012

WILLIAM SINCLAIR HOLDINGS PLC ("William Sinclair" or "the Company")

Trading Update

William Sinclair, one of the UK's leading suppliers of growing media to the horticulture industry, announces a Trading Update following the spring selling season.

As reported in the Company's interim statement on 11 June 2012, unseasonably wet and cold weather held back domestic gardening activity during April and most of May. The Company expected to recover part of this shortfall in the early summer period but the exceptionally wet weather continued throughout June and into July. Consequently, demand was below our normal levels and, with our main selling season drawing to an end, the chances of recovering any of the shortfall are small.

Just how extreme the weather has been was confirmed when the Environment Agency recently announced that UK rainfall between April and June 2012 was the heaviest since records began in 1910. Furthermore, the Meteorological Office has confirmed that June itself had double the historic average rainfall for the month, the second lowest hours of sunshine since 1910 and was the coolest June for over 20 years.

William Sinclair's peat bogs have felt the full effects of the high rainfall and the peat harvest has suffered as a consequence. A prolonged period of dry weather is now required to enable the Company to return to full harvest operations. The peat drying technologies recently introduced by the Company will supplement our conventional harvest and the Board intends to deploy additional drying capacity to further mitigate the impact of the rain

Despite the difficulties, William Sinclair's growth strategy remains on track, particularly within its fast growing, industry leading, peat free product range. However, with the weather unusually impacting both customer demand for its products and the ability to harvest peat by conventional means, the financial performance of the Company will be lower than in the previous year.

The Company continues to have a strong balance sheet and to generate cash and expects to maintain its progressive dividend policy.

For further information:

   William Sinclair Holdings PLC                                                    Tel: 01522 537561 

Bernard Burns, Chief Executive

Peter Williams, Finance Director

Westhouse Securities Tel: 0207 601 6100

Adam Lloyd

Paul Gillam

This information is provided by RNS

The company news service from the London Stock Exchange

END

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