Dunedin-based probiotics manufacturer Blis Technologies has issued a revenue and profit upgrade, looking to break into the black for the first time with a pre-tax surplus of $350,000, for its full year to March.
Revenue is expected to increase from previously forecast $7million to $8.3million, earnings before interest, tax, depreciation and amortisation to rise from $600,000 to $850,000 and a "small net surplus'' to rise to $350,000.
Blis shares rose slightly on the news, being up 4.6% on a year ago to 2.2c.
Blis chief executive Brian Watson said the upward revisions came as a result of strong orders from all markets, including Australasia, Asia, Europe and North America.
He said there had been "significant additional orders'' filled in the last week of March for an Australian product launch.
Blis products were now available in Australia's network of more than 5000 pharmacies.
"Although it is early in the launch of the expanded range we have seen a positive response from pharmacies, with significant orders being filled late in the quarter to meet demand,'' Mr Watson said in a market update yesterday.
Last week, the Australian Therapeutic Goods Administration said the firm's probiotic strain Streptococcus salivarius BLIS M18 had been approved as an active ingredient for listed complementary medicines, BusinessDesk reported.
Blis has a distribution relationship with iNova Pharmaceuticals, and has started early work on expanding into new Asian and African markets.
