Green policy keeps profit firm at Wm Sinclair
Wednesday 14 October 1992
The company reported a 3 per cent rise in pre-tax profits to pounds 4.6m for the year to 30 June, on turnover that increased 13 per cent to pounds 36.5m.
The policy of extracting peat only from bogs not classed as sites of special scientific interest boosted Sinclair's market share in compost products.
Sinclair shares leapt 13p to 209p on the announcement, despite a 9 per cent fall in earnings per share to 15.7p, reflecting the dilution arising from the acquisition in April of Secto, a manufacturer of pet care and insecticidal products.
Tom Sinclair, chairman, said that Secto's earnings had a minimal impact for the period under review. He expected earnings to bounce back once it was making a contribution. He said Sinclair was very pleased with the integration of Secto and had left its management and workforce intact.
Prospects for the current year were difficult to assess because of the seasonal nature of much of the business, but the company was still on the look-out for acquisitions, aided by a cash surplus and strong balance sheet.
There was just one setback for the Lincoln-based group. Farmer Foster, which made garden furniture, was sold at the end of August, producing a pounds 411,000 cost that has been written off as an extraordinary item.
The dividend rose 4.5 per cent to 7p. Pat O'Bryan, analyst at Hoare Govett, said the group had good long-term prospects and the shares deserved a higher rating.
- 1 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 2 Mother of newborn Baby No 59 trapped in sewer pipe told Chinese police she 'heard crying' when she raised alarm
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Tennis fan suing Australian Open organisers for 'failing to shade spectators' during Murray match
- 5 This crazy skiing video will leave you feeling queasy
Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
Mother of newborn Baby No 59 trapped in sewer pipe told Chinese police she 'heard crying' when she raised alarm
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
AirAsia QZ8501: Black box reveals warning alarms 'screamed' before crash, as more bodies recovered from near fuselage of jet
Rob Lowe hits out at White House decision not to meet Israeli leader
British Muslim leaders outraged after Eric Pickles says followers of Islam should 'prove their identity'
UK terror fears: My jihadist son returned from Syria mentally scarred – now he is being ignored
Nigel Farage: NHS might have to be replaced by private health insurance
Billy Crystal: 'Stop shoving gay sex scenes in my face'
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
iJobs Money & Business
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...
£16000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...
£45000 - £47000 per annum + bonus + benefits: Ashdown Group: Java Developer / ...
£35000 - £38000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...