Sinclair’s interims confirm strong YoY growth in in-market aesthetics sales (+31% YoY) although reported continuing sales (£7.7m vs. £10.5m last year) was impacted as expected by planned destocking, especially in South Korea. Following the divestment of its non-aesthetics products to Alliance Pharma (which reduced to the number of SKUs from 333 to less than 50), Sinclair is a pure play aesthetics company with in our view exciting growth prospects, improving margins and a debt-free balance sheet. ....
