|
Zenova Group PLC on Friday reported a narrowed loss during the first half of its current financial year, as it hailed increased order demand in the year to date. The Essex-based fire suppression and interdiction solutions company said pretax loss for the six months that ended May 31 narrowed to £403,000 from £617,000 the year before. Revenue rose 60% to £85,000 from £53,000, while administrative expenses reduced by 29% to £431,000 from £609,000. Since the half-year end, Zenova has executed sales of around £50,000 with a further £130,000 in confirmed orders currently being fulfilled in-house, the company said. It also has visibility on an additional £120,000 in orders expected to complete by the financial year end in November. ‘Crucially, this demand is being driven by Zenova’s PFAS-compliant fire extinguishers, which meet the latest regulatory and environmental requirements and position the company ahead of the industry’s transition away from legacy products,’ said Chief Executive Officer Thomas Melchior. ‘Combined, these executed and expected orders represent a step-change in trading, equating to 400%-500% growth compared with the same period last year.’ Shares in Zenova were up 0.7% at 0.22 pence in London on Friday afternoon. The stock remains down 81% over the past year. Melchior continued: ‘This progress is further supported by the recent working capital fundraise, which strengthens Zenova’s ability to meet growing demand and to aggressively pursue further promising customer interest and deliver against its order book. ‘Together, these developments provide a solid platform for continued revenue growth and underpins management’s confidence in delivering a stronger second half.’ Zenova in February raised £250,000 through a placing and subscription of 100 million shares at 0.25p each, plus one to one warrants at 0.5p. Copyright 2025 Alliance News Ltd. All Rights Reserved
|
