A delegation from Sinopharm visiting Blis Technologies last
November. (Front, from left) Sinopharm deputy general
manager Zhiyuan Lv, Blis Technologies chief executive Dr
Barry Richardson, National Medicines Prospect Dentech
general manager Fang Zhang and NZPR Group managing director
William McQui, (behind) Prof Xingyang Ouyang and Prof Hang
Hua, inspect some of Blis' products. Photo by Peter
Dunedin oral health probiotic manufacturer Blis
Technologies has posted a 13th consecutive annual loss, but
maintains a healthy $3.65 million cash in hand.
Its its annual report, lodged with the stock exchange last
week, Blis trading revenues for the year to March grew from
$1.12 million to $1.26 million, while its after-tax loss
shrunk from last year's record $1.85 million loss to a $1.54
million loss; in line with revised financial guidance in
Since listing in 2001, Blis has booked a total $30.9 million
losses in consecutive years. During the past year, a share
purchase plan and private placement refreshed the coffers
with $4.22 million.
In its annual report, chief executive Dr Barry Richardson
outlined numerous products, development, sale destinations
and partnerships coming to fruition.
''Provided outstanding market access issues are resolved, our
expectations remain for the company to move to profitable
operations during the course of the 2015 financial year,'' he
While finding the financial result ''disappointing'', it
reflected the costs in broadening from supplying healthcare
ingredients to include manufacturing part or finished goods.
Delays in installation and accreditation of manufacturing
facilities meant no revenue was generated until March, while
a site move in Dunedin was stalled because of local
government consent issues, denying Blis the opportunity to
contain occupancy costs.
Craigs Investment partners broker Peter McIntyre said
management had been ''working hard'' during the past year,
looking to make savings and in marketing. The $3.65 million
would be ''enough to cover operations for the next two or
While Blis' revenue in the former mainstay New Zealand market
had declined from $672,000 a year ago to $494,000, and almost
halved in Australia to $53,000, Asia and European sales were
up almost 150%, from $217,000 a year ago to $540,000, plus an
incremental gain in the United States to $106,000.
Dr Richardson said the boosted capital base would support
business strategies, and had secured key trade partners as
''Major commercial developments initiated in conjunction with
our commercial partners are anticipated to come to fruition
over the next six to 12 months,'' he said.
He said ''significant growth'' had been met in Asia and
Europe and was expected to continue, and while US sales were
''badly affected'' by a market access issue; once resolved,
''meaningful sales'' in the US were expected.
Dr Richardson said China was expected to ''ultimately be a
significant market'', with partner NZPR Group, in association
with Sinopharm, the latter planning a market launch in China
and studies for market development through clinical trials.
Blis manufactures oral probiotic bacteria which can be added
to dairy products, for sale to niche human health markets,
and also probiotic lozenge formulations.