- Release Date: 22/05/15 10:36
- Summary: FLLYR: BLT: 2015 Annual Report
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BLT 22/05/2015 10:36 FLLYR PRICE SENSITIVE REL: 1036 HRS BLIS Technologies Limited FLLYR: BLT: 2015 Annual Report BLIS TECHNOLOGIES LIMITED OPERATIONS REPORT For the Year Ended 31 March 2015 The Group reports a net deficit of $1,373k (2014: $1,541k deficit) on total revenue of $2,631k (2014: $1,322k) for the twelve months to 31 March 2015 which is in line with the market guidance provided by directors on the release of the interim results in November 2014. Trading revenue for the period increased by $1,260k (100%) with operating margins remaining robust across product lines resulting in a $251k reduction in the net deficit before depreciation, amortisation and capitalised costs when compared to the previous corresponding period. Trading revenues for the second half of the year were 34% higher than reported for the first half. The Group is expecting comparable dollar amount growth for the 2016 financial year. Key Highlights for the year Include: o 100% revenue growth over corresponding prior period o Renegotiation of international distribution agreements o Export approved Risk Management Programme ("RMP") Dairy, achieved for in-house production o Overcoming ingredient market access issues in the United States o Successful clinical trials and product launches in Italy and Poland by third parties o Launch of new products by the Company Key Challenges for the year: o Increased costs due to production facility set up and gaining export approval status o Optimisation of production resources during a period of high growth o Costs incurred in implementing international distribution changes o Longer lead times for regulatory compliance delaying product launches by key customers o Stronger New Zealand dollar relative to EURO and AUD Outlook The immediate focus for the Company is to move to profitable operations. This will only be achieved by careful management of resources through a period of accelerated production growth. Sales growth is expected to be generated from ingredient sales into North America with Stratum Nutrition, the active pursuit of finished product sales into Europe and consumer product sales in Asia and our local Australasian market both directly and with our distributor partners. Website product sales and focus on educating consumers on the benefits of BLIS oral probiotics remain high priorities and will grow awareness of BLIS oral probiotics. Accordingly, provided the pipeline of planned product launches and sales activities continue, our expectations are for trading revenue to increase by a similar dollar amount to that achieved in the current year. Barry Richardson Chief Executive Officer End CA:00264682 For:BLT Type:FLLYR Time:2015-05-22 10:36:50
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