Business
Annual Results for the period ended 30 Nov 2023
Annual Results for the period ended 30 Nov 2023.
About this update from Zenova Group Plc
[{"type":"text","content":"\n\n7 June 2024\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\nZenova Group PLC\n(\"Zenova\", the \"Company\" or the \"Group\")\n \nAnnual Results for the period ended 30 November 2023\n \nZenova Group PLC (AIM: ZED), the innovative fire suppression and interdiction company, today announces its results for the year ended 30 November 2023. In addition, the Company gives notices of its annual general meeting (\"AGM\") and the publication of its annual report and accounts.\n \nHighlights For The Year Ended 2023\n· Sales of £278k for the year ended 30 November 2023 (2022 - £175k), an increase of 59% over the prior year of £175k. Sales were impacted by delays in gaining key product certifications required to enter strategic market segments. These issues have now all been resolved and the Company anticipates significant revenue growth in the near term.\n· Loss after taxation for the year of £1,687k, a decrease of 17% from the prior year (2022 - 2,032k) mainly arising from R&D tax credits, costs of research and development, testing and certification, staff costs, and professional fees.\n· Multiple, significant testing and certification commendations including BRE steel testing confirming the effectiveness of Zenova FP fire retardant paint, Liverpool John Moores University validation for the Zenova IP thermal insulation paint, certification (Classes A, B, F and Electrical) for the FX500 aerosol fire extinguishers to BS6165 fire standard, and European EN3-7 testing and certification for the Company's larger FX 6L and 9L extinguishers confirming Classes A, B, and F, as well as Electrical classification.\n· Successful launch of all major Zenova products from the FP fire retardant coatings, IP insulation coating and IR insulation render comprising its paint-related offering, to its extinguisher suite of products which include the smaller FX500 aerosol, and the larger 6 and 9 Litre all-in-one extinguishe...