Monday 2nd November 2015 |
Text too small? |
Blis Technologies shares have been halted as the probiotic products maker investigates a quality issue in one of its lines that's reached a foreign market.
The shares were halted ahead of trading today, with the Dunedin based company later announcing it was "aware of a quality issue in a product line in one of its international markets" and investigating "this issue to determine its scale and ascertain any impact on BLT's financial circumstances."
The halt is expected to be in place until the close of trading tomorrow while Blis completes the investigation.
Last month Blis said it expected to report a "modest" earnings surplus in the year ending March 31, 2016 with sales in excess of $5.3 million. The company signed a major deal last year to have its probiotic healthcare products distributed across 600 stores in China by pharmaceutical firm Sinopharm.
New Zealand's reputation for providing safe and high-quality food products took a dent in 2013 after Fonterra Cooperative Group's false botulism alarm sparked a worldwide recall of a particular whey protein concentrate.
The shares last traded at 2.6 cents, valuing the company at $28.7 million.
BusinessDesk.co.nz
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes