(Alliance News) - Zenova Group PLC on Friday reported a widened annual loss, but remained optimistic looking ahead to the new financial year.
Shares in the fire safety product manufacturer were down 4.5% to 1.50 pence each in London on Friday around midday.
In the financial year that ended November 30, revenue climbed to GBP278,000 from GBP175,000 a year earlier.
However, pretax loss widened slightly to GBP2.1 million from GBP2.0 million.
Zenova's cost of sales increased to GBP216,000 from GBP67,000.
Looking ahead, Chief Executive Thomas Melchior said: "We anticipate that the next twelve months will be focussed on sales order book growth and order execution with a close focus on working capital management.
"Zenova is already seeing a significant increase in qualified sales leads and quotations and expects conversion to orders will grow at an increasing pace as its sales and distribution channels gear up."
By Sophie Rose, Alliance News senior reporter
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Zenova Grp (ZED)