Monday 16th March 2020
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Blis Technologies (NZX: BLT ) announced today that it has upgraded its revenue and earnings guidance for the financial year ended 31 March 2020. Guidance provided in February was for revenue in excess of $9.4m and EBITDA in excess of $1.0m. The company expects full year revenue of around $10.0m and EBITDA of between $1.5m to $1.7m, subject to completion of existing orders and audit.
Sharp increases in sales of our BLISTM finished goods are complementing a strong year of sales of our branded ingredients into international markets. Additionally, a portion of scheduled project expenditure has been deferred to next financial year due to delays caused by the impacts of COVID-19.
Brian Watson, CEO said, “Sales of our BLIS probiotic brands through pharmacies and online channels in February and March were better than expected. This increase is across the Blis range but is particularly evident for our products with an immune boosting proposition. BLIS TravelProtectTM, UltraBLISTM, DailyDefenceTM and ThroatGuard PROTM have all seen a lift in sales over this period.”
“We have noted media reports of immunity products seeing a lift in demand globally and it appears some of our current increased sales are related to COVID-19 concerns. We believe consumers are looking for products that may help support natural immunity.” “To date our supply chain, from ingredient supply through to manufacture of finished product has been able to meet the lift in demand and we have significantly increased our production to meet anticipated forward orders. We continue to monitor our supply chain for any future constraints.”
Results for the 12 months to 31 March 2020 are expected to be announced in late May.
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