William Sinclair says peat-free market is expanding

William Sinclair say the peat-free market continued to expand during 2010 increasing a further 23% during the year in a trading update ahead of full-year results due for 5 January 2011.

Sinclair said its New Horizon compost built on its 44% like-for-like growth experienced during the first half of the year.

The company added that 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. But the company "succeeded in building comfortable levels of peat stock for the season ahead". 

William Sinclair also "achieved satisfactory margin improvements from its on-going efficiency programme".

Demand for Sincroboost Plus, the peat substitute made from renewable materials, outstripped supply, said Sinclair.

Discussions are ongoing with Natural England over Bolton Fell compensation.


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