Zentra Group PLC, the Manchester based residential developer focused on the North of England, announces its half year results for the six months ended 31 December 2025.

Financial highlights  

• Revenue of £0.94m (H1 FY25 for the six month period to 31 December 2024: £1.97m). This primarily reflects a reduction in development sales construction service activity.
• Gross profit increased by £1.16m to £0.45m (H1 FY25: loss of £0.71m) as a result of reduced impairments in the current year given the lower number of asset disposals, with a reversal of £0.06m (H1 FY25: charge of £1.05m) being recognised in the period. Whilst the Group recorded a larger loss before tax of £0.64m (H1 FY25: loss £0.07m), the prior period result included a non-recurring exceptional item of £2.56m from the disposal of four entities.
• Basic loss per share (pence) of 1.6 (H1 FY25: loss of 0.2).
• Borrowings of £9.21m (30 June 2025: £8.55m), an increase of £0.66m reflecting partial debt funding of the purchase of the development site at New Islington, Manchester.
• Inventory increased in the period by £1.24m to £1.85m (30 June 2025: £0.61m), also reflecting the purchase of the New Islington site.

Operational highlights 

• Moved the Company’s listing to the ARAM segment of the Aquis stock exchange growth market, a dedicated platform for the listing and trading of real asset-backed securities.
• Completed the disposal of the remaining land at Seaton House, Stockport, and continued positive sales performance on the One Victoria project, Manchester, a high-profile development project where Zentra has a 30% interest and acts as development manager.
• Completion of related-party transactions has strengthened the Group’s liquidity position.

Post Period Events

• Appointed Guild Financial Advisory as AQSE Corporate Advisor.
• Formed a property management joint venture to enhance the Group’s lettings and property management capability.
• Held a General Meeting to approve the Company’s Annual Report and Accounts for the year ended 30 June 2025 and certain related matters.
• Announced the disposal of the One Heritage Tower site in Salford, and that Zentra had earned a disposal fee of £0.35m as development manager.
• Announced a change in majority shareholder from One Heritage Property Development to GKU Holdings (UK) Limited, a new intermediate subsidiary UK holding company, and entered into a Relationship Agreement with the new majority shareholder that formalises the relationship between the companies and ensures the Group continues to operate independently.

Outlook 

• Continued development management of the 129-unit One Victoria project in Manchester, with practical completion now expected at the end of Q2 2026.
• Progression of the development in New Islington, Manchester, through the final stages of design development and tendering.
• With a determined focus on finding good development and development management opportunities, we will continue to prioritise opportunities where the underlying fundamentals support long-term demand and where we can structure transactions to balance capital efficiency with attractive returns.