- Release Date: 13/03/14 15:36
- Summary: GENERAL: BLT: BLIS Technologies Limited Update and Guidance
- Price Sensitive: No
- Download Document 2.49KB
BLT 13/03/2014 13:36 GENERAL REL: 1336 HRS BLIS Technologies Limited GENERAL: BLT: BLIS Technologies Limited Update and Guidance Pursuant to its governance review BLIS Technologies Limited ("BLIS") has appointed Tony Offen to the newly established role of Deputy Chairman. Mr Offen who was first appointed to the Board in 2009 will also Chair the Audit Committee. The Board intends to appoint an additional Director to strengthen the organisations marketing expertise in due course. Since reporting interim results in November the Company has substantially achieved its near term development objectives albeit with some delays. New laboratory facilities are substantially complete with staff expected to transfer to the new premises in April. The nutritional plant has been commissioned and the Food Safety Plan was approved in February but Registered Manufacturing Plant status remains pending, the latter being required to allow export of product to target markets in Asia. Accordingly no meaningful nutritional sales are now anticipated for the 2014 financial year. Ingredient sales into the United States have resumed but some shipments have been delayed due to stringent border control protocols. The delays resulting from regulatory certification and approval processes mean that trading revenues for the 2014 financial year are now expected to be about $1.25 million. This will be about a 12% increase on the $1.121 million recorded in the 2013 year despite the discontinued operations of BLIS Functional Foods ("BFF") which contributed $408k to 2013 turnover. An operating loss of about $1.6 million is now anticipated for the 2014 financial year. A loss of this magnitude will be about 15% lower than the $1.856 million recorded in 2013. The decision not to capitalise any further development costs on products that are now in commercial production will result in about $0.1 million of costs capitalised rather than the $0.467 million capitalised during 2013. Accordingly the pre-capitalisation operating loss for 2014 will be about 30% lower than that recorded in 2013. Aggregate revenues are expected to more than double in the 2015 financial year driven by the commencement of nutritional sales and strong growth in all remaining product categories. An operating deficit is anticipated in the first half of the 2015 financial year with the Company expected to move into operating profit during the second half of the year. Peter Francis Fennessy Chairman End CA:00248160 For:BLT Type:GENERAL Time:2014-03-13 13:36:12
- Forums
- NZX - By Stock
- BLT
- Ann: GENERAL: BLT: BLIS Technologies Limited Upda
Ann: GENERAL: BLT: BLIS Technologies Limited Upda
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BLT (NZSX) to my watchlist