Business
Annual Results for the period ended 30 Nov. 2022
Annual Results for the period ended 30 Nov. 2022.
About this update from Zenova Group Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 (\"MAR\") WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN\n31 May 2023\nZenova Group PLC\n(\"Zenova\", the \"Company\" or the \"Group\")\n \nAnnual Results for the period ended 30 November 2022\n \nZenova Group PLC (AIM: ZED), a provider of innovative fire safety and heat management technology and products, today announces its results for the year ended 30 November 2022.\n \nHighlights for the year ended 2022\n· Successful launch of 4 key products (all independently certified and validated) into the market: FP (Fire Protection Paint), IP (Thermal Insulation Paint), IR (Insulation Render) and WB (Wildfire Barrier).\n· Sales of £175k for the year ended 30 November 2022 (2021 - £6k). Whilst, as previously announced on 30 November 2022, revenue is lower than expected, Zenova has achieved sales of all its launched products and made entry to a wide range of territories and markets, which the company anticipates will lead to further orders and significant revenue growth in the near term.\n· Loss for the year of £2,032k (2021 - £1,156k). mainly arising from costs of research and development, testing and certification, staff cost, and professional fees as Zenova Group Plc establishes its position in the market.\n· Multiple sub-distributor agreements signed to sell Zenova products, including with Omnis Panels LLC a construction sector wholesaler in the United Stated of America.\n· Scalable manufacturing partners put in place to ensure the supply of all Zenova products can satisfy the expected growth in demand for products across multiple geographies.\n· Additional validation of WB and FP by Professor Claire Belcher and her team from the University of Exeter wildFIRE Lab, with further successful tests of FP and WB conducted by the Dorset and Wiltshire Fire Service under the supervision of Professor Belcher and her team.\n· Products showcased at the Robert Price Sustainabl...