Shares in Sinclair Pharma were on the rise this morning after the UK speciality group posted a very strong set of results and the first profitable first half since its floatation on the London Stock Exchange in 2003.

The company seems to have side-stepped the current economic gloom booking a 77% leap in gross profit to £11.8 million and earnings per share of 4 pence, compared to a loss of 1.1 pence for the year-earlier period.

Growth was driven by solid sales during the first half, which jumped 56% to £16.2 million, with total product sales climbing 15% to £9.9 million. Turnover was also propelled by an 118% increase in the revenue stream from marketing partners, including a 36% hike in related product sales to £3.9 million.

The company is evidently very pleased with its performance for the period. Grahame Cook, its non-executive chairman, said the result “demonstrates the ongoing strength of Sinclair’s business model and product portfolio,” and claims the group is confident about continuing progress during the second half, while Sinclair says it is “well positioned to meet the challenges of the market place without compromising our deliverables or strategic goals”.