Blis Technologies CFO Tim Mepham departs

Wednesday 9th August 2017

Blis Technologies chief financial officer Tim Mepham has stepped down as the probiotics maker edges closer to turning a profit.

The Dunedin-based company said Mepham will leave "in the coming months to pursue other business interests" and it is searching for a full-time replacement. Mepham has been performing the role four days a week, it said.

Last month, Blis said it expects to post a maiden profit in the current financial year. The company, which was set up to commercialise probiotic bacteria for use in consumer products for oral health, colds and flu, reported a net loss of $24,000 in the 12 months ended March 31, narrowing from a loss of $816,000 a year earlier.

Blis had forecast a profit for the 2017 financial year but warned the market in February that pre-tax profit wasn't going to meet the $700,000 forecast due to significant reductions in purchases by three major customers.

The stock last traded at 3.5 cents and has shed 13 percent this year.

(BusinessDesk)

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