Blis sees 'modest' earnings surplus after more than doubling first-half sales

Wednesday 14th October 2015

Blis Technologies, which sells probiotic products targeted at oral health, colds and flu, expects to post "modest" earnings after more than doubling first-half sales, which it anticipates will flow into the annual result.

The Dunedin-based company will report a "modest surplus" in earnings before interest, tax, depreciation and amortisation and a small net loss in the six months ended Sept. 30 after lifting sales 139 percent to $2.7 million, it said in a statement after the close of trading. That is expected to spill over to the full year, and Blis expects to report an ebitda surplus in the year ending March 31, 2016, on sales in excess of $5.3 million.

Blis had previously said it expected to post a small ebitda loss in the year on sales above $4.5 million.

In August, chief executive Barry Richardson said he would leave Blis at the end of the current financial year after nine years in charge to pursue other interests, and allow new leadership to take the company through its next stage of development.

The shares rose 14 percent, or 0.3 cents to 2.4 cents, valuing the company at $26.5 million.

BusinessDesk.co.nz

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