16th Jan 2014 08:24
LONDON (Alliance News) - Sinclair IS Pharma PLC reported Thursday that its first-half revenues are projected to increase from last year, while like-for-like revenues would decline. The company expects full year results to be in-line with market expectations.
In its trading update for the six months ended December 31, the specialty pharma company said it expects revenues would be approximately 24.5 million pounds, compared to last year's 23 million pounds, impacted by a number of short-term supply, regulatory, and political factors.
Like-for like revenues reduced 7%, but approximately 1.6 million pounds of sales delayed to the second half due to one-off factors. Sinclair said it experienced short-term first half weakness in International operations with a 17% decline in LFL performance.
Looking ahead, the company said it expects that strong second half performance would produce about 7% LFL growth for fiscal 2014.
CEO Chris Spooner said, "A combination of H1 one-off factors and good sell-out trends provide confidence for robust H2 growth and we are confident of meeting market expectations for the year. In addition the focus on aesthetic dermatology including the recent Perfectha acquisition along with multiple other business development initiatives augur well for strong growth and rising profitability."
Copyright RTT News/dpa-AFX
Related Shares:
Sinclair Pharma