Zenova narrows loss in 'challenging year'; confident on revenue growth
Zenova Group PLC on Friday said it anticipates 2025 being a year of ‘significant commercial breakthrough’ as it posted weaker revenue alongside a narrowed loss.
The London-based fire suppression and interdiction solutions company narrowed its pretax loss in the financial year ended November 30 to £1.4 million from £2.1 million a year earlier.
However, revenue fell 76% to £68,000 from £278,000, with the top line weakness driven by delays in order execution.
The improved earnings despite the weaker revenue can be primarily attributed to a reduction in administrative costs.
These fell 37% to £1.3 million from £2.1 million.
Looking ahead, Zenova expects to accelerate revenue growth through a combination of macroeconomic tailwinds, expanding product certifications, continued distributor network expansion, and through its joint venture supplying regional markets.
Chief Executive Thomas Melchior commented: ‘2024 was undoubtedly a challenging year for Zenova, but it was also a period of necessary transformation. My team and I remained focused on repositioning the business for sustainable growth-innovating across our product range, restructuring operations, and reducing costs to better capitalise on our competitive advantages.’
‘With a strengthened foundation and a clearer path to execution, I am optimistic that 2025 will be a year of significant commercial breakthrough and revenue growth.’
Shares in Zenova closed flat at 0.21 pence on Friday in London.
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