William Sinclair prepared for peat-elimination target

Growing-media company William Sinclair Holdings chief executive Bernard Burns has said the firm is well-placed to meet new targets for peat elimination with its SuperFyba peat alternative.

But Burns added that he does "not like the voluntary nature of what the Government is doing". He announced a doubling of pre-exceptional profit before tax to £2.52m and said: "We're able to deal with whichever direction the market takes. But the Government should either accept peat has a serious environmental deficit or legislate against it. They haven't got the evidence to do that."

The company's 2009 net debt was eliminated this year, leaving net cash of £1.81m. It received a £9m advance payment from Natural England for its Bolton Fell site.

- For more on peat, see p12.

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