Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Doubled Revenue for BLIS Technologies

Doubled Revenue for BLIS Technologies Indicates Strategies Are Beginning to Show Effect

Following the release of a year-end result that shows a doubling of revenue to $2.631 million, and a loss slightly less than the previous year at $1.373 million, BLIS Technologies chief executive Barry Richardson said sales growth is set to continue.

Richardson said it was a loss making year but optimism is warranted, especially given the revenue earned in the second half of the year was 34% higher than the first half due to a number of projects culminating and beginning to contribute to revenue during the year.

He said BLIS products had performed well in clinical trials in Europe and new BLIS products had been launched in Poland and Italy.  New international distribution agreements had been negotiated, and access issues had been overcome in the United States for ingredients.

“We have some very useful and professional partners in the markets now.  We are especially interested in what is happening with BLIS products in Eastern Europe.”

The company also commissioned a new lozenge production plant and blister packing capability in Dunedin that is now contributing to revenue.  A second blister pack machine is to be installed in the coming weeks. 

Richardson said that the lozenge production plant along with a nutritional formulation plant are tangible outcomes of a strategy to move more into higher value finished products alongside the ingredients already being supplied through BLIS distributors.

“What it means is that we have total control over the quality of our products so we can ensure their effectiveness.”

He said another positive development has been the addition of two new directors to the board who bring experience in offshore and consumer marketing.  Graeme Boyd, a former CEO of Comvita, and Veronica Aris who had been involved in marketing and sales roles in healthcare, natural health supplements, pharmaceuticals and consumer products joined as directors during the year. 

BLIS also added to its management team a new business development position specifically focused on growing existing and new Australasian and Asian markets.    

“Over time as we nail down market access and regulatory requirements in each market a greater proportion of spend will be directed to market development.” 

All indications are that sales growth in ingredients will continue in the United States.  Finished product sales are expected to continue growing in Europe, Asia and Australasia. 

“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.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Maritime Union: Deepening Supply Chain Crisis Requires Action

Maritime Union of New Zealand National Secretary Craig Harrison says the global COVID-19 pandemic exposed pre-existing weaknesses in our logistics sector, and created enormous problems... More>>

Air New Zealand: Employees Recognised With $1,000 Share Award

The efforts Air New Zealand employees made during one of the airline’s toughest years will be recognised via an award of $1,000 worth of company shares to all permanent employees... More>>

Consumer NZ: Bank Complaints On The Rise, Survey Shows

Nearly one in five Kiwis had a problem with their bank in the past year, Consumer NZ’s latest satisfaction survey finds. Consumer NZ chief executive Jon Duffy said the number of bank customers reporting problems had jumped to 18%, up from 11% in 2020... More>>

Mercury: Enters Into Binding Agreements To Acquire Trustpower’s Retail Business

Mercury NZ Limited (Mercury) has announced that it has entered into binding agreements with Trustpower Limited (Trustpower, NZX:TPW) to acquire Trustpower’s retail business for NZ$441 million... More>>


ASB: New Zealanders Missing Out On Hundreds Of Millions In KiwiSaver Government Contributions

New Zealanders have just over a week to ensure they’re eligible for the maximum annual government KiwiSaver contribution... More>>

Stats NZ: GDP Climbs 1.6 Percent In March 2021 Quarter Following December Dip

Gross domestic product (GDP) rose by 1.6 percent in the March 2021 quarter, following a 1.0 percent fall in the December 2020 quarter, Stats NZ said today. "After an easing of economic activity in the December quarter, we’ve seen broad-based growth in the first quarter of 2021... More>>