Dunedin-based probiotics manufacturer Blis Technologies has signalled a miss on its previously forecast maiden profit, instead readying to book its 17th consecutive loss.
In a market update yesterday, Blis' chairman, Peter Fennessy, said instead of the predicted maiden profit, Blis would on May 26 present its annual result with a $24,000 loss, from total revenue for the year of $6.54 million.
Blis' shares were up 10.5% to 4.2c after the announcement as more than 1 million shares changed hands before midday.
Blis will book a maiden surplus at the earnings before interest, tax, depreciation and amortisation level, of $586,000. Last year it booked a maiden half-year profit of $428,000.
Since listing in 2001, Blis has booked more than $33 million in losses, this year's $24,000 significantly down on the previous year's $816,000 loss.
Blis was founded on using a natural antibiotic to control streptococcal throat infections and manufactures lozenges, sprays and additives for dairy products, its mainstay product being its Blis K12 throat guard.
Last year it predicted a $700,000 full year to March profit, but in February warned the market that three major customers had reduced their product inventories. Revenue was expected to be down from more than $8 million to about $6.5 million.
Mr Fennessy said because of the expected loss, Blis would defer use of a $1.3 million tax credit.
