Blis Technologies Limited update of company performance.
NZX RELEASE
10 Birch Street
PO Box 5804
Dunedin 9058
New Zealand
Telephone: 03 474 1338
Fax: 03 474 9050
Email: info@blis.co.nz
Website: www.blis.co.nz
27
th
October 2017
Blis Technologies Limited- Update of the company performance.
The Company is currently preparing its preliminary announcement and half year report for the six
months ending 30 September 2017 (unaudited) (HY18). These will be available by 23 November
2017.
These results will show a reduction in trading revenue for HY18 of 46% compared with the same
period last year (HY18 $2.069 m compared with HY17 $3.836 m). In HY17, the Company
experienced sales that related to a significant stock build by our Japan and USA distributors to
support new launch activity. This has impacted on sales in HY18 as these distributors have
purchased less stock as they have rundown their stock levels.
As a consequence of the drop in revenue and increase in marketing and business development
expenditure, there is an EBITDA deficit of $953,000 and a Net Deficit before Tax of $1.246 m for
HY18 which will be shown in the half year report.
While the performance in HY18 is below expectations, the Board anticipates a recovery in the second
half of the financial year ending 31 March 2018. Contributors to this recovery include a move into the
peak sales period for our products over the northern hemisphere winter, new customer launches in
several markets and a return to normal ordering patterns following a correction in stock holding within
the supply chain.
The Company has invested in revising the finished product portfolio and upgrading its marketing
collateral, including the Company's on-line presence. This puts the Company in a stronger position to
progress plans for finished product launches into key new markets, including expanding its on-line
sales efforts internationally.
As a result of this information and known orders in October and November the Board expects the
Company's revenue for the year ended 31 March 2018 to be similar to that of FY2017, with a small
positive EBITDA and a net deficit.
For further information please contact Brian Watson, CEO: 027 7059133
Brian Watson
Chief Executive
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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