Blis Technologies has halved its 2021 operating earnings forecast due to higher costs and a return to more normal trading conditions following a Covid-driven spike in sales towards the end of its previous financial year.
Auckland-based Blis, which makes probiotic health products, said that based on latest sales forecasts and planned investment for the final quarter to March, its guidance for the 2021 year was for revenue similar to 2020 or at the low end of single digit growth.
It said earnings before interest, tax, depreciation and amortisation (EBITDA) for the March 31 year was now expected to be in the range of $1 million - $1.3 million, compared with a previous guidance, which was for EBITDA to be similar to the $2.1m earned in 2020.
"The expectations for stable 2021 sales revenue is against the backdrop of 2020 revenues which saw a 29 per cent increase in sales over the 2019 financial year, with full year 2020 fourth quarter sales of $3.1m," it said.