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LONDON - Zenova Group PLC (AIM:ZED), a company specializing in fire suppression and interdiction, has announced its financial results for the year ended November 30, 2024. Despite a decrease in revenue from £278k in 2023 to £112k in 2024, the company reported an improved post-tax loss of £1,238k, down from £1,687k the previous year. The loss per share also decreased, from 1.69p in 2023 to 1.0p in 2024.
The company’s product development over the past year included obtaining EN3-7 certification for its Zenova FX6L and FX9L extinguishers, which are now suitable for a variety of fire classes. Other certifications such as the UK Kitemark and the Marine Equipment Directive (MED) were also secured, enhancing the company’s standing in certified fire safety solutions. Additionally, Zenova’s FX fluid and components have been verified to comply with EU regulations on PFOA, PFOS, and PFAS.
Zenova has expanded its product portfolio with the introduction of several new items, including a 2-litre extinguisher, chrome versions of existing extinguishers, and an automatic ceiling-mounted fire extinguisher, Zenova CS, suitable for retrofitting in various locations.
The company’s sales strategy remains focused on large B2B accounts in sectors such as construction, manufacturing, and public institutions. Despite a delayed £2.4 million contract with Gracewood/Drips and Sparks/Zensafe, Zenova has continued to expand its sales and distribution network internationally, with agreements across multiple countries including the UK, USA, and India.
Zenova has also established outsourced manufacturing capabilities in the UK, Europe, and North America, and launched a joint venture manufacturing facility in Albania, which is operational ahead of schedule and expected to generate significant revenue.
Following a strategic shift from development to commercial growth, Zenova restructured its board and senior management. Fiona Rodford took over as Non-Executive Chair in March 2024. To support working capital, Zenova raised £677,500 in March 2024 and an additional £250,000 through a share placement in February 2025.
Looking ahead, Zenova anticipates revenue growth, citing positive market conditions, expanding distributor networks, and the new Albanian production joint venture. Thomas Melchior, Chief Executive of Zenova Group PLC, expressed confidence in the company’s repositioning for sustainable growth and anticipated commercial breakthroughs in 2025.
Zenova will hold its AGM on July 8, 2024, in London, with the Annual Report and Accounts available on the company’s website. This information is based on a press release statement.
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