Zoono Group's FY24 Financial Performance

Zoono Group Limited (ASX: $ZNO) has released its Appendix 4E Preliminary Final Report for the year ended 30 June 2024. The company reported a loss of NZ$9,088,364 for the year, compared to a loss of NZ$406,020 in the previous year. The report provides insights into the financial performance, including the statement of profit or loss, financial position, changes in equity, and cash flows. Managing director's review highlights the company's focus on shelf-life extension technology, market sectors, and business operations. The report also discusses the company's operations in India and China, capital raising activities, and legal proceedings. Additionally, it provides information on the directors, remuneration, and corporate governance practices.

Executive Commentary on FY24 Performance and Strategic Initiatives

Zoono Group's financial report for the year ended 30 June 2024 reflects the challenges faced due to COVID-related disruptions and overordering of products in April 2020, resulting in a decrease in revenue and gross profit. The company has undertaken a significant review of its structure, strategy, and business operations in response to slowing industry demand post-COVID. We have signed new distribution agreements in India and China and expect these regions to contribute significantly to our revenue in the coming 12 months. Our testing on soft fruits with a major UK supermarket chain has resulted in signed contracts and initial orders. We are also engaged in negotiations with supermarket chains and packaging manufacturers for our shelf-life extension technology. Despite the challenges, we remain focused on our strategic initiatives and are optimistic about the potential of our products in the market.

Outlook and Key Developments

Zoono Group Limited's Appendix 4E Preliminary Final Report for FY24 reflects a challenging year with a reported loss. The company's focus on shelf-life extension technology, market sectors, and business operations demonstrates its commitment to strategic initiatives. The signing of new distribution agreements in India and China, along with successful testing on soft fruits in the UK, indicates potential revenue growth. However, the legal proceedings and financial impact from COVID-related disruptions pose challenges. Zoono's capital raising activities and corporate governance practices aim to support its business objectives. The company's outlook remains cautiously optimistic, with a focus on leveraging its innovative products and expanding its market presence.