Half Year Results, Strong Performance Improvements
BLIS Technologies Ltd Reports Half Year Results and Strong Improvements in Performance.
Dunedin, NZ - Nov 23 – (MediaCom) BLIS Technologies Ltd (NZX: BLT)
BLIS Technologies Ltd (NZX: BLT), developers and manufacturers of advanced oral probiotics , announced yesterday, significant improvements in financial performance with a reduction of their operating deficit and a 20% increase in sales for the half year period ended 30th September, 2006.
“Improvements in operational efficiencies, combined with increases in domestic and international sales, has lead to nearly halving the operating deficit for the six months ending 30th Sept.” according to CEO, Dr Barry Richardson. “We are very pleased with these improvements and believe that this will provide us the momentum we need to future improvements in our fundamentals”
BLIS Technologies Ltd has undertaken significant re-organization in the last few months. The introduction of a new Chief Executive Officer, Dr Barry Richardson, with a proven record of commercial development of nutritional and specialty ingredients, has allowed former BLIS CEO, Dr Chris Chilcott to concentrate on product support as the company focuses on international market development and achieving profitability.
Dr Richardson indicated that the launch of the branded product, “TravelGuard” in pharmacies throughout New Zealand was evidence that the company is moving forward with its plan to rollout new and innovative products and product applications. BLIS Technologies Ltd has also announced it has been granted two additional patents during the last six months. “Both of these patents are of strategic importance to the company” said Dr Richardson “one patent protects us in a key market and the other means that we can be more aggressive in the development of new products for the prevention of tooth decay”
In addition to its work on expanding sales in New Zealand and Australia, BLIS Technologies Ltd is also focused on international markets. The company is maintaining its sales efforts in its key markets of Spain, Germany, Japan, Taiwan, and the United States. Regulatory approvals have cleared the way for a mid-2007 launch in Spain. Germany has the Fresh Breath Kit in a test market phase and the company expects product launches in Japan and the United States during 2007.
BLIS Technologies Ltd is in continuing discussions with interested parties regarding significant investment in the company.