25 May 2012

Asia helps Sinclair IS Pharma towards profits

13/01/2012 Robert Tyerman

Oral health, dermatology and wound care specialist Sinclair Sinclair IS Pharma says interim turnover has risen 65 per cent to £23.4 million. In an upbeat trading statement, the AIM-quoted company, which cut losses 31 per cent to £11.7 million in the year to June on turnover 19 per cent at £33 million, indicates it achieved positive earnings before interest, tax, depreciation in the six months to December.

Steered by entrepreneurial chief executive Chris Spooner, Sinclair shed some 'non-core' brands in the first half year and focused on fewer key brands, launching its Atopiclair dermatitis treatment and Papulex for acne in the Asia Pacific region through its partner Invida. The company entered exclusive promotion agreements to promote Xclair, its treatment for radiation dermatitis in France and Spain.

Sinclair disposed of Mysoline, a concern that came with the merger that created the company, using the £11.1 million proceeds to help fund the acquisition of another company, Advanced Bio-Technologies Inc. That deal which brought global ownership of Kelo-cote, a scar prevention and tissue treatment that is already the company's second largest brand.

Highlighted by Growth Company Investor at 28p in 2010, Sinclair shares have disappointingly eased to 23.5p, up 0.5p this morning, valuing the company at £94.2 million. A move into the black could stimulate a rally. 

Tags: AIM market, Chris Spooner, Dermatolgy, Kelo-Cote, Wound care

Sector: Pharmaceuticals & Biotechnology

Companies: Sinclair IS Pharma

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