The St Lawrence-based company said yesterday that trading since July had been ‘mixed’, with warmer autumn weather affecting sales of garden products, star product pansy ‘can-can’ not fulfilling expected potential, and its entertainment division falling behind, although gifts had performed well.
The AIM-listed firm also announced that private equity firm West Coast Capital has acquired 29% of the share capital from non-executive chairman Paul Fraser and Sussex Trading Company, of which the beneficial owner is non-executive director Stewart Newton.
Mr Newton has left the board with immediate effect and Mr Fraser will step down early next year, when a new independent chairman will be appointed.
Taking their places on the board will be Jim McMahon and Paul Davidson from West Coast Capital.
Mr McMahon (57) has not held any directorships in the past five years and Mr Davidson is currently a director of FL Group hf.
