BLT upgrades FY19 guidance

1 April 2019 Blis Technologies upgrades FY19 guidance Blis Technologies Limited (NZX:BLT) advises that following solid revenue growth in all markets during the final quarter, financial performance for the 12 months to 31 March 2019 is expected to exceed previous guidance. We expect reported revenue for FY19 to be close to $8.3 million, EBITDA close to $0.85 million and a net surplus before tax of around $0.35 million. These figures are subject to completion of the annual audit. This is an increase on the previous guidance for FY19 of revenue in excess of $7.0m, EBITDA in excess of $0.6m and a small net surplus before tax. Brian Watson, CEO of Blis Technologies said "The revisions are as a result of strong orders from all markets including Australasia, Asia, Europe and North America. Significant additional orders were filled in the last week of March to meet the Australian launch announced last week." "Our products are now available on shelves across Australia's network of over 5,000 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. These orders will be captured in our FY19 result and we expect to also see a significant positive impact on financial performance for the new financial year." The BLIS product range will be available in the "listed complementary medicines" throat category in Australian pharmacies, representing a new approach to throat health and immune defence for the Australian market. Unlike most probiotics which work in the gut, BLIS K12 specifically targets and protects the gateway to the body - the mouth and throat. "The relationship with iNova Pharmaceuticals, our exclusive distribution partner, will see the next phase of our expansion into select new markets across Asia and Africa. Early evaluation of priority markets has begun, however timing will be dependent on market factors including regulatory requirements" Blis Technologies' results for the 12 months ending 31 March 2019 are expected to be released in late May. Note: The CEO Brian Watson is unavailable for comment based on overseas travel. For further information please contact: Tony Offen Chairman, Blis Technologies 021 463 336 About Blis Technologies Ltd Delivering proven health benefits through evidence-based, advanced probiotics Blis is an NZX-listed manufacturer of advanced probiotic strains that go beyond the gut. Combining innovation with evidence-based research and the highest quality production controls enables the delivery of probiotic solutions for specific health targets including throat health, halitosis (bad breath), immune support and teeth and gum health. BLIS products are sold throughout New Zealand and in Australia, Asia, Europe and the USA. More information about Blis Technologies Ltd can be found at www.blis.co.nz. End CA:00332726 For:BLT Type:MKTUPDTE Time:2019-04-01 08:30:17