Blis revenue soars for first quarter
DUNEDINBASED oral probiotics company Blis Technologies has again raised the prospect of a modest maiden profit this financial year, following a large firstquarter revenue boost.
Revenue for the first quarter to June rose 179%, from $590,000 a year ago to $1.64 million, Blis chief executive Brian Watson said in a market update yesterday.
The result was further evidence reinforcing Blis’ recovery in sales during the last three quarters, and also evidence the sales downturn in the first half of the previous trading year ‘‘was a oneoff impact,’’ he said.
‘‘All regions saw increased revenue compared with the same period last year,’’ Mr Watson said.
Blis has more than 1.1 billion shares on issue which are down more than 50% on a year ago, trading around 1.6c yesterday.
Blis said in May 2016 it expected to break even that financial year, but last October its share price was hammered by shareholders after it downgraded that profit expectation.
Revenue for the six months to September had plunged 46%, from $3.83 million a year earlier to $2.06 million, as distributors in Japan and the United States purchased less stock, having run down their stock levels.
Mr Watson said yesterday guidance for the financial year which ends in March 2019, was for revenue ‘‘in excess’’ of $7 million, with earnings before interest, tax, depreciation and amortisation of $600,000 and a ‘‘small’’ profit.
A profit would emphasise the steady business growth seen during the past four years, Mr Watson said.
Blis was founded on a natural antibiotic to control streptococcal throat infections.
Accumulated losses since 2001 stand at $34.4 million.