Dunedin-based Blis Technologies has doubled its revenues to $2.63 million, and hopes initiatives in place will repeat that performance this financial year.
The company said sales growth was set to continue,as it outlined positive clinical trials, product launches, the signing of new international distribution deals and increased production through new plant for its Dunedin manufacturing site.
Blis manufacturers probiotics: healthy bacteria for inclusion in some dairy foods, powder form and lozenges, generally to support ear, nose and throat health.
However, for its full year to March, Blis continued its string of losses, posting this week its 11th consecutive loss, of $1.37 million.
Its overall losses since 2004-05 have climbed to $32.2 million.
Blis shares have been trading around 2c for the past five months.
Blis' chief executive, Barry Richardson, said while it was a loss-making year, optimism was warranted, given second-half revenue was 34% higher than first-half, due to several projects culminating and contributing to revenue during the year.
Dr Richardson said sales growth was set to continue.
''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,'' he said.
Blis products had performed well in clinical trials in Europe and new products had been launched in Poland and Italy.
New international distribution agreements had been negotiated and access issues had been overcome in the US for ingredients.
''We are especially interested in what is happening with Blis products in Eastern Europe,'' Dr Richardson said.
Another positive development was the appointment of two new directors, Graeme Boyd, a former chief executive of Comvita, and Veronica Aris, who has been involved in marketing and sales roles in healthcare, natural health supplements and pharmaceuticals.
There was also a new business development position, focused on growing Australasian and Asian markets, Dr Richardson said.
