Sharechat Logo

Blis Technologies confident it can deliver another annual profit

Friday 26th July 2019

Text too small?

Blis Technologies remains confident it will deliver another profit in the current financial year as revenue remained strong in the first quarter.

The Dunedin-based company reported a maiden profit of  $381,000 in the 12 months ended March 31, turning around a loss of $1 million a year earlier and its earnings before interest, tax, depreciation and amortisation were $896,000 versus an ebitda loss of $422,000 in the prior year. 

Chair Tony Offen told shareholders at the company's annual meeting that first-quarter revenue was $2.8 million, up 63 percent on the same period a year earlier, and for an ebitda surplus of $519,000. 

“This provides us with further confidence to continue our re-investment into growth and that we will deliver another profitable growth year for 2020, with ebitda expected to be in line with last year," he said. 

The shares last traded up 13.5 percent, or 0.5 of a cent, at 4.2 cents and have more than doubled this year. 

Chief executive Brian Watson noted that key progress was made with the launch of Blis' expanded product range into the Australian pharmacy network from April 1 this year through its exclusive distribution agreement with iNova Pharmaceuticals. 

Looking ahead, he said growth opportunities in the current financial year include Canada, where it will target a distribution partnership to launch within the pharmacy channel, China cross-border e-commerce and Daigou markets, market expansion with iNova Pharmaceuticals and expansion of online sales. 

He also underscored that skin is an important target for the company's R&D pipeline and Blis innovation is focused on developing and commercialising BLIS Q24, a unique patented strain of a species that naturally lives on the skin.

Blis was formed to commercialise probiotic bacteria for use in consumer products for oral health, colds and flu. In 2000, it bought Otago University's rights to Salivaricin B, a substance which acts as a natural antibiotic to control strep throat.


  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Michael Hill International Limited - Fourth Quarter Trading and Business Update
Trustpower releases quarterly operating results
Napier Port third-quarter 2020 trade volumes
Rio Tinto decision following strategic review of Tiwai
Contact says smelter closure is ‘disappointing’
South Port (SPN) Statement on NZAS Tiwai Point Aluminium Smelter Closure
Rio Tinto announcement on Tiwai Aluminium Smelter
Me Today announces equity raising to accelerate growth
Scott Technology Trading Update; Rising to the COVID Challenge
New non-binding indicative offer received from apvg, shareholder meeting deferred

IRG See IRG research reports