Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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the next set of results. New management has restructured at the top, but has the business changed? Strategy is (website): To focus on niche therapeutic areas of dermatology and oral health. To maximise the value of our brands through innovation, acquired technologies and intensive marketing via our own country operations and network of international partners. It's not easy finding new products with revenue streams at bargain prices. Since the change of CEO, the product profile has not changed significantly. The Flamazine deal was initiated by the previous management. I don't see new products, gains must be expected through innovation and intensive marketing. Like I said before, there could be profits from maintaining revenues and cutting costs, but the existing products haven't set the world on fire and probably won't in the future.
In today's Mail on Sunday http://www.dailymail.co.uk/money/article-1311248/MIDAS-Sinclair-looks-healthy-restructuring.html
I fear the worst, there's a long way to go before these turn.
to you and Spooner. I see he's just put more of his money where his mouth is., but I don't think anyone will get rich with the products they have.
http://www.sinclairpharmair.com/investor_relations/online_annual_report/senior_management/ Look at Marco Mastrodonata's profile. The products are a combination of those developed in house and those that came with acquired subsidiaries and most recently the two acquired from Solvay. First problem is finding products with good revenues and owners who are prepared to sell them is very difficult, unless you are prepared to pay over the top for them. Next question is how will Sinclair add value? If Sinclair had a significant sales force that had access to a relevant set of buyers across Europe, and if the products could be efficiently sold through the same channels, then they would be adding value. The products range from derma cosmetics to oral health products. Some are sold through pharmacies, some through Superdrug, some need to be recommended by professionals to sufferers with very specific conditions. It's a mish mash of products and fragmented markets. Every EU country has its own peculiarities. Most of the products are low tech offerings competing against numerous others and are relatively low value products. This is why Sinclair struggles to make a profit. Their revenues grow, but it's hard work and the costs grow too. I recognise that the company can probably become marginally profitable by cutting out some fat - but what after that? I think it's going to be a long hard slog to put this right and the sp will struggle before it gets better. Certainly Spooner's claim to know and understand the sector and to spot opportunities is going to be severely examined. I wonder what he was thinking when he looked at the accounts, the products and the revenue splits.
The new ceo has a lot of work to do. He doesn't appear to have any experience in turn around or in pharma..... Difficult to see anything transformational here. sph first has to generate a genuine profit, and where does anything beyond that come from? I think the share is way over priced at the moment.
The company has disappointed over a long period. Even the modest profits reported last year were dependent on a few license deals and some luck with forex. Without those one-offs, they would have reported a loss. There are numerous products each generating piece meal revenues in many different countries. The company blamed lower than expected sales on destocking by their distributors. Look at the number of new product distribution agreements last financial year http://sinclair.ireports.nl/nl/highlights. There are loads, it appears that sph is good at getting the first deal, but the distributors don't reorder in the quantities expected. That must be a reflection on the products and indicates that even if the distributors manage to unload them first time around, there is no big follow up demand from consumers. The new investors and management have bought into a lemon. Apart from annual exceptional items that amuse the analysts, the company shows a net reduction in cash flow from manufacture and sale of products year on year on year, ie it is consistently making operating losses on its core business. The new strategy appears to be to buy revenue streams, but this is not a path to explosive growth. There is no obvious way in which sph can add value to those products. They don't have a big marketing budget to boost sales through their own 5 European outlets, and the model of using networks of distributors in other countries means they only capture a small part of the available margins. There is a further fly in the ointment. Flammazine and Flammacerium product rights were purchased from Solvay (announcement 11th Dec 2009), BUT S&N also markets the products, so Sinclair is not acquiring the full revenue stream attributed to these products. They have to compete with Smith & Nephew for sales of the products they just paid 17.5M for. Doesn't look too clever to me. Lucky it 's small fry for you IMHO!
Looks like you are a lonely figure in Sph chat. Looking back to your first sph post, I'm guessing that you bought in at 70p odd and are a very disappointed investor?
the rise over last week, anyone know
The directors of Sinclair Pharma plc (AIM: SPH), Lo-Q (AIM: LOQ), and Stanley Gibbons (AIM: SGI) will be presenting: Thursday the 25th June 2009 Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception. Details on the presenting companies can be found below. FREE registration here ; http://www.sign-up.to/signup.php?fid=1816&pid=7163 If you have any problems registering or queries please email action@proactiveinvestors.com Narest tube stations are Green Park (5 mins walk), or Bond Street (7 mins)
This share is very close to its 200 day MA (30.19) and RSI is 70 (almost overbought). On Friday, several sells did happen. I will stay on sideline for the moment and will keep an eye on Thursday's result. If it breaks out 30, then I may jump in.
Not for long as it was tipped in the FT this afternoon. http://www.ft.com/yourmoney/advice/tradersdiary - David Schwartz: Monday afternoon blues (my free access just expired...) The article is interesting because he tipped TIG last week. He said that it was a great company, and the results on Thursday would be interesting. If they were good, then the price would go up. If they weren't then the price wouldn't drop much because there were take-over rumours around, so everyone would keep their paws on it. On comes Monday, and the shares explode with many people buying them based on the tips. After the GOOD report on Thursday, the price dropped dramatically - stinging everyone who had bought them short term. David discusses this in the article this week - saying to beware weekend tips in the press. The MM also read the tips, and so they will be ready to harvest... After mentioning this, he then says that SPH is an interesting company, bubbling along quietly without much interest, and that they have a report on Thursday... So, action stations - things could get exciting. It should be interesting as the article that tips the share, points out that the marketmakers are reading the article too, and that you should be very careful with what you do with the information from a weekend tip! So we have forewarned investors, vs marketmovers who know the investors are forewarned. Rinse & repeat? Non-event? I think I'll sit on the side-lines.
These shares appear to be on the move, at last, helped by the Spanish buyout.
Sinclair Pharma plc 31 October 2008, Godalming, UK: Sinclair Pharma plc ("Sinclair": SPH:L), the international specialty pharma company, today announces it has put in place further facilities to meet peak funding requirements for 2008/9. Sinclair had been in negotiations with one financial institution and discussions were at an advanced stage. However, the proposed terms were amended at the final credit committee stage and the Directors of Sinclair, therefore, took action to obtain funding through a combination of alternative facilities from another lender to the Sinclair group plus funds provided from certain of the Directors and their families. In aggregate Jerry Randall, Michael Flynn (through his wife Sookja Flynn) and Jean-Charles Tschudin have agreed to lend a total of £350,000 to Sinclair group companies, these amounts to be advanced before 14 November 2008. The loans are repayable in April 2009 and are on arms length commercial terms. In addition, Michael Flynn and Jean-Charles Tschudin are intending to invest a further £450,000 by way of a share subscription to take place during November 2008. The subscription will be at 23 pence per share based on the share price at market close on 30 October 2008. The annual report and accounts for the year ended 30 June 2008 will be published later today. They will show a post balance sheet adjustment to the income statement. The adjustment is an exceptional wri
Any thoughts on these shares? Any advice? Are they still on to be bought?
What are peoples thoughts here? Seems that 2006/7 was an unstable year for SPH. 2007/8 much better, with a lot of potential upside 2008/9. Could we see some of this reflected in the SP. It seems undervalued at the moment. What are peoples thoughts? thanks ;-)