Profit warning at William Sinclair Holdings as peat harvest confirmed at just 20 per cent

William Sinclair Holdings has issued a profits warning, saying it has only been able to achieve about a fifth of its normal annual harvest of about 570,000 cubic metres of peat.

Bernard Burns
Bernard Burns

William Sinclair warned investors that the shortage will lead to a fall

"The performance in the year ending 30 September 2012 has been badly affected by unprecedented weather conditions and is not a reflection of the long term prospects of the business," the company said in a statement.

Chief executive Bernard Burns will step down as of early 2013 but will retain responsibility for the resolution of a complex compensation claim for the halting of harvesting at a now protected bog area at Chat Moss in Lancashire.

The horticultural supplier made a pre-tax profit of £3.2m pounds in 2011, on revenues of £54.3m.

The company owns about 810 hectares of peat bogs in England and Scotland.

Bord na Mona has revealed it has harvested only 37 per cent of what it expected this year.


Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Sign up now
Already registered?
Sign in

Read These Next

Business Planning - Brace now for Brexit impact

Business Planning - Brace now for Brexit impact

Neville Stein advises how businesses can act now to protect themselves against higher plant import costs after the Brexit deadline.

How will Westland buying Gardman impact the garden centre supply market?

How will Westland buying Gardman impact the garden centre supply market?

Garden Centre Profile: Rosebourne, Aldermaston

Garden Centre Profile: Rosebourne, Aldermaston

The second Rosebourne garden centre opened last month, Wyevale Solihull has been bought and the group aims to expand further still, Matthew Appleby reports.


Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +

HORTICULTURE WEEK BUSINESS Awards 2019

The Horticulture Week Business Awards is now open for entries

Horticulture Jobs
More Horticulture Jobs

Horticulture Week Top 100 GARDEN CENTRES 2018

See our exclusive RANKING of garden centre performance by annual turnover plus the FULL REPORT AND ANALYSIS of the market drawing on our garden retail industry-exclusive research

Garden Centre Prices

Peter Seabrook

Inspiration and insight from travels around the horticultural world
 

Read more Peter Seabrook articles

Neville Stein

Business advice from Neville Stein, MD of business consultancy Ovation
 

Read latest articles