NZ's Blis Technologies sees best day in 5 months on FY forecast upgrade

BLIS Technologies

15/03/2020 23:46

** Blis Technologies Ltd's  BLT.NZ  shares rise as much as
32.7% to NZ$0.07, the biggest jump since October 2019
    ** Biotechnology firm upgrades forecast for FY revenue to
about NZ$10 mln ($6.05 mln) and EBITDA to between NZ$1.5 mln and
NZ$1.7 mln  urn:newsml:reuters.com:*:nNZW8lWPgD
    ** Co in Feb forecast FY revenue and EBITDA in excess of
NZ$9.4 mln and NZ$1.0 mln, respectively  urn:newsml:reuters.com:*:nL4N2A30HP
    ** "Sales of BLIS probiotic brands through pharmacies and
online channels in Feb and March were better than expected" -
CEO Brian Watson 
    ** Watson adds that some of the current increased sales are
related to coronavirus concerns as consumers are looking for
products that may help support immunity     
    ** However, co says a portion of scheduled project
expenditure has been deferred to next FY due to delays caused by
the impacts of COVID-19
    ** Shares rise to their highest level in three weeks in
heavy trading, with more than 3.1 mln shares changing hands, vs.
30-day average volume of about 1.9 mln
    ** Stock among biggest percentage gainers in the S&P NZX All
Capital index  .NZCI 
    ** Stock down 25.8% this year, as of last close, compared
with a 15.1% decline in the broader NZX index  .NXCI  


($1 = 1.6526 New Zealand dollars)
    

 (Reporting by Deepali Saxena)
 ((Deepali.Saxena@thomsonreuters.com;))