5th Aug 2015 08:35
LONDON (Alliance News) - Sinclair IS Pharma PLC Wednesday said revenue rose in its recently-ended financial year following a strong second half as it achieved good sales growth in the aesthetic portfolio, and said it expects earnings before interest, tax, depreciation and amortisation to be in line with expectations for the year.
The pharmaceutical company said that revenue in the year ended June 30 grew 19% to GBP75.9 million from GBP63.6 million the year before, while like-for-like sales rose 8% compared with 4% the prior year. Sinclair said it made peak sales in late spring, although these were partially offset by the weak euro.
Revenue in the aesthetic portfolio grew 67% to GBP35.8 million from GBP21.4 million, and 19% on a like-for-like basis. Within the portfolio, its skincare product Silhouette beat budget by reaching GBP8.7 million in revenue, more than double that of the prior year, as a result of a strong performance in Europe and Brazil, while Perfectha delivered sales of GBP8.2 million, up 13% on a like-for-like basis, and revenue for Ellanse grew 1% on a like-for-like basis to GBP4.5 million.
Sinclair said it expects its full-year earnings before interest, tax, depreciation and amortisation to be in line with the board's expectations.
"The key 2015 objectives - to launch Silhouette, Perfectha and Ellansé, and to obtain FDA approval for Silhouette Instalift - were met in parallel with the strategic review. Although the first half disappointed due mainly to minor delays in launching the new products, any teething problems were largely resolved by mid-year allowing a strong recovery in the second half," Chief Executive Chris Spooner said in a statement.
"The company expects the strong sales growth and earnings leverage rates to continue, and a strong growth opportunity from the launch of Silhouette Instalift," he added.
Shares in Sinclair were trading up 1.1% at 46.25 pence Wednesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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