Blis Technologies expects ‘small profit’

Article – BusinessDesk

July 10 (BusinessDesk) – Blis Technologies expects to post a small profit for the fiscal 2019 year as the biotechnology firm reported revenue more than tripled in the first quarter while its losses narrowed.Blis Technologies expects ‘small profit’ in fiscal 2019 as revenue recovers

By Margreet Dietz

July 10 (BusinessDesk) – Blis Technologies expects to post a “small profit” for the fiscal 2019 year as the biotechnology firm reported revenue more than tripled in the first quarter while its losses narrowed.

Trading revenue for the Dunedin-based company rose to $1.64 million in the quarter ended June 30, nearly tripling from $590,000 in the same quarter a year earlier, it said in a statement, adding that the interim results were unaudited.

It posted a $92,000 loss before interest, taxes, depreciation and amortisation in the first quarter, narrowing from a comparable $892,000 loss in the year-earlier period, Blis said.

“All regions saw an increased revenue compared with the same period last year,” Blis said in the statement. “This result further reinforces the recovery we have experienced over the last three quarters and evidence that the sales downturn in the first half of FY18 was a one-off impact.”

The company said it expects to post revenue “in excess of” $7 million for the financial year ending March 31, 2019, as well as ebitda “in excess of” $600,000 “and a small profit.”

Blis, which was set up to commercialise probiotic bacteria for use in consumer products for oral health, colds and flu, operates in Australasia, Asia, Europe and North America.

The stock last traded at 1.4 cents. It has dropped nearly 60 percent in the past year.

(BusinessDesk)

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