Revenue up, loss narrows for Blis Technologies in first half

AUCKLAND: Blis Technologies narrowed its firsthalf loss and continues to expect a pretax profit for the full year as revenue ticks higher.

The Dunedinbased company, set up to commercialise probiotic bacteria for use in consumer products for oral health, colds and flu, reported a pretax loss of $500,000 in the six months to September 30 , versus a loss of $1.2 million in the same period a year earlier. Its loss before interest, tax, depreciation and amortization was $248,000.

Revenues, however, lifted 47% to $3.1 million, with all regions and channels reporting growth. No tax was payable and no dividend will be paid, it said.

‘‘The first half year has seen good growth in revenue across all regions compared with the same period last year. With the second half year of sales aligning with the northern hemisphere winter and new customer/market opportunities, including the first supply for an expanded Australia launch, we reaffirm our existing market guidance,’’ it said.

The company is expecting revenue ‘‘in excess’’ of $7 million, ebitda of more than $600,000 and a ‘‘small net surplus before tax’’ for the year ending March 31.

The company noted Australasian sales grew by 44% to $697,000. The new relationship with Radiant Health as the distributor within the New Zealand pharmacy channel has been in operation since March with positive results in sales growth. New Zealandbased web sales have also increased.

Its Australia sales have been relatively small while it prepares for an expanded complementary medicine launch in the Australian market with its distribution partner iNova late this financial year.

In Europe, sales rose 28% to $1.3 million, partly due to a recovery of sales in Poland. Products were also launched in Denmark, Belgium and the Netherlands. North American ingredients sales increased 41% to $437,000, it said.

In Asia, sales more than doubled to $487,000, largely due to a return to regular ordering in Japan.

— BusinessDesk