BLT
31/07/2015 08:31
GENERAL
PRICE SENSITIVE
REL: 0831 HRS BLIS Technologies Limited
GENERAL: BLT: BLIS Technologies Gathering Steam in Offshore Markets
News Release
For immediate release
July 31, 2015
BLIS Technologies Gathering Steam in Offshore Markets
At BLIS Technologies AGM today, chief executive Barry Richardson pointed to
increased orders from Europe and North America as underpinning confidence
that BLIS will increase sales by at least 75% over last year with a small
operating deficit before interest, tax, depreciation & amortization expected
for the 2016 financial year.
Richardson said expectations for revenue growth have increased significantly
from those advised in the Annual Report due to specific initiatives
progressed by BLIS trade partners and their customers and the significant
depreciation in the New Zealand dollar.
"It is now our expectation revenues for the 2016 financial year will
comfortably exceed $4.5 million.
He pointed to one-off costs in structuring operations to cope with the
increased sales of part and finished products being incurred in the current
half-year and therefore the full benefit of the increased revenue will only
be reflected in the full year accounts.
Richardson said first quarter sales for 2016 FY were $945,000, which is
double what they were at the same point last year.
"Italy continues to be strong, Poland is a growth market with increasing
orders, New Zealand pharmacy sales continue to grow with BLIS oral probiotics
now number two in the cough and cold sector."
He pointed to the potential a range of clinical trials presently underway in
China, the US and the Porirua trial sponsored by the New Zealand Health
Research Council could bring to the company. But a big feature driving
existing and future revenue growth is the expansion of the BLIS production
facility in Dunedin that creates a diversified revenue stream while also
allowing the company to have direct control of the quality and efficacy of
its products.
Richardson said the results of those trials will be important for the
marketing effort of offshore distributors such as Stratum in North America
and the recently appointed distributor for Europe and the Middle East,
Bluestone Pharma.
"Those companies know our products, have the contacts and have a depth of
experience in marketing so they are key to our future.
He said future priorities will be focused on managing growth and continuing
with the strategy of securing regulatory approvals market by market.
Richardson said he was pleased to report a solid year with growing sales and
many key regulatory approvals nailed down and others close to being
concluded.
END
For further comment contact:
Barry Richardson 021 664 742
For media assistance contact:
Del Carlini 021 709 907
End CA:00267728 For:BLT Type:GENERAL Time:2015-07-31 08:31:42
