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 Russell Brand says he will 'probably' give up acting to focus on his revolution
- 2 Watch what happened when food critics were unknowingly served McDonald's
- 3 David Beckham's Haig Club whisky is exactly what’s wrong with the Highlands
- 4 Queen's first tweet: Reply telling Her Majesty to 'f*** off' broadcast on BBC News
- 5 #AskNigelFarage: Twitter starts hilarious Q&A for Ukip leader
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Support for EU membership 'at highest level since 1991' with most Brits wanting to stay 'in'
Tony Blair 'says Ed Miliband will lose 2015 general election'
Thousands with degenerative conditions classified as 'fit to work in future' – despite no possibility of improvement
Putin: The US is to blame for almost all the world's major conflicts
Attacks on 'Ukip Calypso' show how skewed people’s priorities are
iJobs Money & Business
£60000 per annum: Ashdown Group: Compensation and Benefits Manager - Compensat...
£30000 - £35000 Per Annum plus excellent benefits: Clearwater People Solutions...
£24000 - £28000 per annum + bonus & benefits: Ashdown Group: IT Business Syste...
£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...