Thursday 11th February 2021
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Blis Technologies Limited’s programme of investment in new markets and product pipeline initiatives is the cornerstone growth driver for the business’ future success. Third quarter activity supporting this strategy has seen several key projects reach finalisation with business partners, leading to the announcement of product roll out programmes.
“Last month we launched the BLIS PROBIOTICS™ store on Alibaba’s Tmall Global marketplace tmall.com . As China’s largest cross-border marketplace, Tmall Global is the premier channel through which overseas brands and retailers can directly reach Chinese consumers, build brand awareness and gain valuable consumer insights. The store is the ideal market entry for introducing BLIS PROBIOTICS™ to the Chinese market” said Blis Chief Executive, Brian Watson.
“Along with this we’ve received Health Canada approvals for our full product range. These approvals were delayed due to COVID-19 but will enable Blis to launch the range in Canada in the 4th quarter of this financial year”.
Both of these significant market developments occurred late in this financial year so will have limited impact on the FY21 financial results but they are both expected to be important contributors to sales in future years.
Year to date performance
Trading revenue for the 9 months ending 31 December 2020 increased 10% to $8.2m, compared with the previous year. EBITDA increased 12% to $1.5m.
Outlook for FY21
Based on latest sales forecasts and planned market and product investment activity for the final quarter, guidance for the 2021 financial year is for revenue similar to FY20 or at the low end of single digit growth. EBITDA is expected to be in the range of $1.0 - $1.3m.
This compares with previous guidance for FY21 of an EBITDA similar to the $2.1m earned in FY20.
The expectations for stable FY21 sales revenue is against the backdrop of FY20 revenues which saw a 29% increase in sales over the FY19 financial year, with FY20 fourth quarter sales of $3.1m.
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