15th Jul 2014 09:40
LONDON (Alliance News) - Sinclair IS Pharma PLC said Tuesday its earnings before interest, tax, depreciation, amortisation and exceptional costs for the year to end-June will be in line with market expectations despite currency headwinds.
The pharmaceutical company said its revenue for the full year was GBP63.3 million after a strong second half, although offset by around GBP800,000 from the strengthening of sterling. Revenue was up 14% on reported basis, and 4.0% on a like for like basis, it said.
It said its acquired dermal products Perfectha and Ellansé and aesthetics company Silhouette have been swiftly integrated, and contributed to its strong performance in the second half. A number of short-term issues which hit its first half were "satisfactorily resolved", it said.
Perfectha, a dermal filler, contributed revenues of GBP3.8 million in the second half compared to GBP2.4 million for the same period last year pre-acquisition. Dermal filler Ellansé contributed GBP1.3 million in its first three months, while private aesthetics company Silhouette contributed GBP800,000 since it was acquired in May.
In Europe like-for-like sales rose 0.8% in the second half after a 1.6% decline in the first. Revenues from dermal filler Sculptra declined to GBP7.2 million, and revenues from its burn infection product Flammacerium fell to GBP7.4 million after a poor performance in Spain.
Sinclair ended the year with cash of GBP17.5 million, and net debt of GBP40.2 million, slightly lower than expected due to the strengthening of sterling. After the year end it disposed of its Cryogesic brand for GBP1.2 million, continuing its policy of disposing of non-core products.
Shares in Sinclair were trading up 0.4% at 30.62 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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