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Sinclair Pharma trading 'progressing well'; sales to be second-half weighted

StockMarketWire.com

Cosmetic surgery group Sinclair Pharma said it still expected sales for the current financial year to be weighted to the second half following a product launch in Brazil.

Trading in the year to date had progressed 'well', chairman Grahame Cook said in speech notes for Sinclair Pharma's annual general meeting.

'Momentum in our ex-US business remains strong, with the business on track to deliver mid-teens growth at constant currency for 2018, which is in line with the guidance we provided at the time of our full year results,' Cook said.

In the US, the company created its own in-house sales team there in April.

'While it is still early days the board is very pleased with sales in the first two months ahead of budget,' Cook said.

'Our direct customer contact continues to give us confidence that the Silhouette InstaLift brand remains strong in the US and this is backed up by recognition at congresses and publications within leading industry journals in recent months.'

'We believe prospects for the product in the US remain strong and reiterate our guidance that US sales will be at least £3.0m, on a constant currency basis, in the current financial year.'

In Brazil, Cook said the recent launch of Ellanse there has been a great success, with initial demand exceeding budget.

'We look forward to another year of robust growth in 2018,' Cook said.

'As previously indicated sales are expected to be second-half weighted to a similar degree as in 2017 as a result of the switch to direct sales in the US, the launch of Ellanse in Brazil as well as overall aesthetic market seasonality.'



Story provided by StockMarketWire.com