Skin care drives UK pharma company results

The company, created in 1971, floated on the London stock exchange’s alternative investment market in 2003, after a change of management in 2000.

First profitable year​

Results for the year ending June 30 2008 describe the company’s first profitable year since the flotation.

Sinclair Pharma has a wide portfolio including a number of over the counter and prescription dermatological and oral care products.

It is this variety that chairman Steve Harris identifies as one of the strengths that has led the company into profit.

“Sinclair has made tremendous progress over the past 12 months which has delivered our first year of EBITDA profit since IPO. This has resulted from a robust sales performance from an ever widening portfolio of growing products sill in their commercial infancy,”​ he said.

Harris also highlighted the importance of the expanding dermo-cosmetics side of the business in future growth.

The UK-based company reported ₤30.3m in sales revenue, up 31 per cent from the previous year.

This revenue translated into an operating profit of ₤2.2m after exceptionals, up from a loss of ₤3.9m last year, and an EBITDA profit of ₤1.3m before exceptionals, up from last year’s loss of ₤1.1m.

Dermo-cosmetics strong​

The dermo-cosmetics portfolio, which includes skin whitening products, anti-aging formulations and anti-acne products, performed particularly well reporting revenues of over ₤6m.

Looking to the future, Harris said the company is planning an aggressive expansion plan attempting to not only expand existing lines into new geographic areas but also to introduce new products to new markets.

In an interview with Reuters news agency Sinclair’s Michael Flynn said the company would be continuing to make acquisitions, particularly focusing on Germany.

“(Our acquisition strategy) is very focused obviously on Germany, we must get something in Germany because that’s the big gap in our European footprint,”​ he was quoted as saying.