Business
Interim results for the 6mths ended 31 May 2023
Interim results for the 6mths ended 31 May 2023.
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\n \n25 August 2023\nZenova Group PLC\n(\"Zenova\", the \"Company\" or the \"Group\")\n \nInterim results for the six months ended 31 May 2023\n \n \nZenova Group PLC (AIM: ZED), a provider of proprietary fire safety and heat management solutions with applications across housing, industrial, and commercial sectors, today announces its interim results for the six months ended 31 May 2023.\nSignificant progress made in the period:\n· Financial highlights:\no Revenue generation from previously announced international sales contracts, has commenced.\no Sales for the six months to 31 May 2023 of £108k (2022: £75k).\no Gross margin for the six months to 31 May 2023 of 52% (2023:49%).\no Operating loss for the period of £709k (2022: £1,038k) driven by increased R&D, testing, and marketing.\n \n· Contracts signed:\no Clastrom - distributor for Spain and Germany placed an initial order for the FX500® aerosol fire extinguisher for 40,000 units.\no Omnis LLC - distributor for USA placed an initial order for 7,500 units of the FX500 mini fire extinguisher.\no Zensafe Ltd - distributors in the UK placed an initial order for 10,000 units of the FX500 aerosol fire extinguisher for Zensafe's account with Amazon. \no Rawlins Paints a UK paint provider has become a Zenova distribution partner.\no Viridis Group Ltd appointed as distributor for Poland\n \n· New clients:\no Housing Association Limited selected its innovative Zenova IP thermal insulation paint coating for a pilot project.\no Melin Homes an established Housing association based in Southeast Wales providing over 4,500 affordable properties across five local authorities.\n \n· R&D, testing and certification:\no John Moores Liverpool University evaluated the performance of Zenova IP for use in retro...