Long-awaited contributions from sales have helped Dunedin biotechnology company Blis Technologies report a vastly improved six-month deficit of $11,000 before tax and finance costs.
The deficit, for the six months to September 30, compared favourably with the $405,000 loss for the six-month period a year earlier, with the improvement largely due to trading revenue increasing from $158,000 to $663,000 over the period under review.
The net deficit for the six-month period fell 56%, from $411,000 in the previous corresponding period (pcp) to $180,000.
Revenue growth was strong, improving 228% to $1.1 million, which compared favourably with the previous full-year revenue of $1.150 million.
The pcp six-month figure was $329,000.
Announcing its result, the company said revenue from sales of its probiotic products were driven by greater sales in North America, Asia and New Zealand, with international revenue accounting for 80% compared with 58% pcp.
It could have been greater, however, with Blis estimating the export-unfriendly exchange rate cost it $100,000 in revenue.
The company has been focused on growing the United States market and recently signed a distribution agreement with Frutarom Ltd, which appears to be paying dividends, with US sales growing from $15,000 pcp to $368,000.
New Zealand sales increased 94%, helped by a marketing campaign.
Blis said it would push its new dental protection product, BLIS M18, continue to develop dietary supplement, consumer and food and beverage markets in North America and Asia, and, with Frutarom, look at opportunities in Europe, Taiwan, Japan, Korea, South East Asia and Australia.
