Sinclair Pharma PLC Pre-Close Trading Update (2924U)
January 17 2017 - 2:00AM
UK Regulatory
TIDMSPH
RNS Number : 2924U
Sinclair Pharma PLC
17 January 2017
Pre-Close Trading Update
GBP37.8 million 12 month revenue to December 31 2016, growth of
51%*
Strong performance of all brands
Successful US launch of Silhouette Instalift(TM)
London, 17 January 2017 Sinclair Pharma plc (AIM:SPH.L)
("Sinclair" or the "Group"), the international aesthetics company,
announces an unaudited trading update for the twelve months ended
31 December 2016.
Sales for the twelve months ended 31 December 2016 were GBP37.8
million, (GBP34.3 million at constant currency) compared to pro
forma sales for the aesthetics business of GBP25.0 million for the
same period in 2015, representing headline growth of 51%.
Underlying sales growth, excluding Silhouette Instalift(TM) US
sales, Brazilian sales and currency tailwinds was 37%.
Silhouette Soft(R) sales reached GBP14.0 million in the period,
compared with GBP9.3 million in 2015. Growth of 51% (47% at
constant currency, excluding Silhouette Instalift(TM) and
Brazillian sales) This reflects strong growth across many markets,
in particular South Korea, the Middle East, Spain, UK and
Australia. Silhouette Soft sales in Brazil grew to GBP2.3 million
(2015: GBP1.9 million) following the launch of Sinclair's own
affiliate in this key aesthetic market in July 2016.
Silhouette Instalift(TM), launched by partner ThermiGen in the
US in August 2016 recorded sales to Sinclair of GBP1.3 million,
ahead of management expectations partly as a result of larger
initial stocking orders. Doctor training is ahead of our schedule
and feedback from patients and doctors has been very positive,
further reaffirming management's view of the significant potential
for Silhouette Instalift(TM) in this key market.
Ellansé(R) delivered revenues of GBP8.1 million compared to
GBP4.4 million in the prior year. Growth of 84% (69% at constant
currency). This reflected broad based growth in many markets,
especially Spain and South Korea.
Perfectha(R) revenues were GBP8.1 million against GBP5.7 million
in 2015 growth of 42% (30% at constant currency). This follows a
recovery in South Korea and growth across all of Sinclair's direct
European markets.
Sculptra revenues were GBP6.3 million compared with GBP5.7
million in the prior year, growth of 11% (2% at constant
currency).
Cash at 31 December 2016 was GBP16.8 million (GBP24.4 million at
30 June 2016) reflecting US launch costs, which are in line with
management expectations, and milestone payments triggered by
initial US sales of Silhouette Instalift(TM).
Chris Spooner, CEO, commented: "I am pleased with the Group's
performance in 2016, a year when we made excellent progress in our
strategy to build a leading global pure-play aesthetics company.
Following the radical re-shaping of the business we are now in a
position to deliver significant sustainable long-term growth. The
business is leaner and simpler to run with a smaller, focused suite
of complementary high growth products that are all performing well.
We have recently taken steps to minimise the impact of future
currency volatility, distributor inventory levels remain normalised
and we are excited about the progress made with our partner
ThermiGen in the US. With the momentum we are seeing across the
portfolio, management expects 2017 to be another year of strong
revenue growth, which will deliver significant operating
leverage."
Sinclair will publish final statutory results for the 18 month
period ended 31 December 2016 on 21 March 2017.
*Sales of aesthetic products only, excluding discontinued
operations (non-aesthetics business disposed in December 2015).
Ends
For further information please contact:
Sinclair Pharma plc Tel: +44 (0) 20 7467
6920
Chris Spooner
Alan Olby
Andy Crane
Peel Hunt LLP Tel: +44 (0) 20 7418
8900
James Steel
Oliver Jackson
Media enquiries
FTI Consulting Tel: +44 (0) 203 727
1000
Ben Atwell
Brett Pollard
Stephanie Cuthbert
Notes to Editors:
About Sinclair Pharma plc - www.sinclairpharma.com
Sinclair Pharma plc is an international company operating in the
fast growth, high gross margin, global aesthetics market. Sinclair
has built a strong portfolio of differentiated, complementary
aesthetics technologies, which are experiencing significant growth,
targeting unmet clinical needs for effective, high quality, longer
duration, natural looking and minimally-invasive treatments.
Sinclair is planning entry to multiple new geographic markets and
line extension launches over the next few years. The Group has an
established sales and marketing presence in the leading EU markets
and Brazil, and a network of international distributors including
ThermiGen in the US.
"Safe Harbor" Statement under the US Private Securities
Litigation Reform Act of 1995: Some or all of the statements in
this document that relate to future plans, expectations, events,
performances and the like are forward--looking statements, as
defined in the US Private Securities Litigation Reform Act of 1995.
Actual results of events could differ materially from those
described in the forward--looking statements due to a variety of
factors.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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