Published on 6 - May - 2009
William Sinclair boosted by 'grow your own' trendGarden products company's share price rises 11.64% following release of trading update ahead of interim results.
William Sinclair, one of the UK's leading producers of peat and fertiliser products, saw an 11.6% jump in its share price yesterday to 81.50p.
The increase follows the company releasing a trading update yesterday morning, ahead of its interim results, which will be announced on June 1.
William Sinclair revealed that trading for the six months to March 31, 2009 was "in line with the company's forecasts" and it saw strong sales during March. The Easter period was also "positive" and the warm weather in March and April facilitated an early start to the year's peat harvest.
William Sinclair chief executive, Bernard Buns said the company had also been boosted by the continuing trend for grow your own: "The strengthening sales performance provides evidence that people are spending more time in the gardens during the current difficult economic situation. The increased fashion towards growing your own vegetables is having a further benefit to the company."
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