Zentra Group Reports Interim Financial Results

Zentra Group, based in Manchester and specializing in residential development in Northern England, has released its interim financial results for the six months leading up to December 31, 2024. The company recorded a significant revenue decline to £1.97 million from £9.15 million a year earlier. This drop is primarily due to decreased development sales and construction services.

The company’s gross loss increased by £0.87 million, resulting in a loss of £0.71 million for the period, largely attributed to asset impairments. However, due to the disposal of four entities, the company reported a reduced pre-tax loss of £0.07 million, a notable improvement from the previous year's £1.94 million loss.

Operationally, Zentra has taken steps to reduce debt by £5.74 million, bringing it down to £11.24 million. This reduction is helped by shareholder debt waivers and a strategic focus on core residential developments including a £3 million investment in the One Victoria project in Manchester.