After a challenging 2013, Sinclair will focus on consumer marketing, continuing modernisation and improved efficiencies to turn the company's fortunes around in 2014, says new CEO Peter Rush.

Announcing preliminary result for the year ending last September, Rush said the development of the company's new Ellesmere Port manufacturing facility would be speeded up as Sinclair looked top reduce its reliance on peat, and boost production of peat-free and reduced peat growing media. All production of the wood-based SuperFyba ingredient is now based at the new plant.

Sinclair made a pre-tax loss of £1.2m (compared to a modest profit of £0.5m for 2012), on reduced revenue of £46.5m (down 3%) - as a result, said Rush, the board were recommending a full-year dividend of 3p (4.5p in 2012).

Poor weather leading to reduced sales, resistance to price increases from professional growers, a poor 2012 peat harvest and SuperFyba production difficulties (since solve) had all impacted on revenue.

Rush estimated that, following a better harvest last year and increased investment in their Scottish peat bogs, peat stocks were now sufficient for the next two seasons.

Another blow during the year was the withdrawal, at short notice, by their previously supportive bank of expected additional borrowing, creating cash-flow problems and forcing the company to raise £8.2m from alternative investors. 

During 2014, Rush said, the business will become more consumer focussed by investing in and re-positioning its brands as well as a programme of new product development, based on consumer-driven innovation.