Source - SMW
Sinclair Pharma has more than halved its H1 pretax loss to £3.4m, from a loss of £7.2m. Revenue was marginally lower at £17.25m, from £17.29m.

CEO Chris Spooner commented:

"We have made material  progress in our strategy of building a high growth, global pure-play aesthetics business from our strong foundations. We have delivered significant sales growth in the last six months and are on track to meet our guidance of 40% sales growth for calendar year 2016.

"We are highly encouraged by the response to Silhouette InstaLift pre-marketing activities in the US, which has resulted in very strong early demand by physicians for product training. 

"In addition, our newly established Brazilian affiliate provides direct access to a leading aesthetic market, and is immediately sales and earnings enhancing.

"Sinclair has already grown since the divestment of the non-aesthetics business to a scale where it is near to EBITDA breakeven pre US investment. Conversion on incremental sales to EBITDA is very high as the relatively fixed cost base combined with high gross margins drives operational leverage."

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Sinclair IS Pharma (SPH)

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