Tighter regulatory controls, a tough retail market and a strong dollar eroded the benefits from stronger revenue streams for Dunedin biotechnology company Blis Technologies.
The company reported a $142,000 deficit before allowing for tax and finance costs for the six months to September 30, greater than the $11,000 deficit for the same period a year earlier.
Trading revenue, driven by growth from the US, grew 34% from $663,000 to $886,000 compared with the previous corresponding period. Total revenue grew 8% to $1.166 million.
Chief executive Barry Richardson said an unfavourable exchange rate alone cost the company $50,000 in income.
Blis products have gained a foothold in the US.
But Mr Richardson said there had been delays in the launch of BioGuard to major retail chains until near the end of the reporting period, tighter regulations to access China and Korea and higher costs for human clinical safety trials in the US.
Looking ahead, Mr Richardson said BioGuard would be released in Mexico soon.
