BLT
22/05/2015 11:09
GENERAL
NOT PRICE SENSITIVE
REL: 1109 HRS BLIS Technologies Limited
GENERAL: BLT: BLIS Technologies Ltd- Press Release
News Release
Doubled Revenue for BLIS Technologies Indicates Strategies Are Beginning to
Show Effect
Following the release of a year-end result that shows a doubling of revenue
to $2.631 million, and a loss slightly less than the previous year at $1.373
million, BLIS Technologies chief executive Barry Richardson said sales growth
is set to continue.
Richardson said it was a loss making year but optimism is warranted,
especially given the revenue earned in the second half of the year was 34%
higher than the first half due to a number of projects culminating and
beginning to contribute to revenue during the year.
He said BLIS products had performed well in clinical trials in Europe and new
BLIS products had been launched in Poland and Italy. New international
distribution agreements had been negotiated, and access issues had been
overcome in the United States for ingredients.
"We have some very useful and professional partners in the markets now. We
are especially interested in what is happening with BLIS products in Eastern
Europe."
The company also commissioned a new lozenge production plant and blister
packing capability in Dunedin that is now contributing to revenue. A second
blister pack machine is to be installed in the coming weeks.
Richardson said that the lozenge production plant along with a nutritional
formulation plant are tangible outcomes of a strategy to move more into
higher value finished products alongside the ingredients already being
supplied through BLIS distributors.
"What it means is that we have total control over the quality of our products
so we can ensure their effectiveness."
He said another positive development has been the addition of two new
directors to the board who bring experience in offshore and consumer
marketing. Graeme Boyd, a former CEO of Comvita, and Veronica Aris who had
been involved in marketing and sales roles in healthcare, natural health
supplements, pharmaceuticals and consumer products joined as directors during
the year.
BLIS also added to its management team a new business development position
specifically focused on growing existing and new Australasian and Asian
markets.
"Over time as we nail down market access and regulatory requirements in each
market a greater proportion of spend will be directed to market development."
All indications are that sales growth in ingredients will continue in the
United States. Finished product sales are expected to continue growing in
Europe, Asia and Australasia.
"When we look at the pipeline we expect trading revenue in the coming
financial year to increase by a similar dollar amount to that achieved in the
current year."
END
For further comment contact:
Barry Richardson 021 664 742
For media assistance contact:
Del Carlini 021 709 907
End CA:00264685 For:BLT Type:GENERAL Time:2015-05-22 11:09:54
