Filta Group Holdings PLC Trading update (2201N)
07 August 2017 - 4:00PM
UK Regulatory
TIDMFLTA
RNS Number : 2201N
Filta Group Holdings PLC
07 August 2017
PRE-CLOSE TRADING UPDATE
FILTA GROUP HOLDINGS PLC
("Filta" or "the Group")
Trading update
Filta is providing a trading update for the six months ended 30
June 2017.
The Group has experienced revenue growth of some 38% over the
same period last year with each of our primary operating segments
experiencing double digit growth. We have seen strong performance
in both the US and in the UK, with US growth being driven by
increasing numbers of franchisees, increased royalties from our
existing franchisees and the UK growth being due, principally, to a
very strong performance from our owned businesses.
While we have incurred higher overheads than last year,
primarily related to the increased cost of being a public company
and investments in people and systems to enable further growth in
the future, our first half performance has been substantially ahead
of last year and in line with market expectations.
We are confident that, with the benefit of the investment in
people and systems that we have made this year, our growth path can
continue for the foreseeable future through a growing franchise
base and as we add further services to our existing suite. In the
UK, we see many opportunities to augment our existing offerings
with higher margin services to our same customer base and to expand
our footprint across more of the country.
The second half has started with an encouraging level of new
franchise interest and with the already larger base, your Board is
confident of further growth through the remainder of the year.
The Group expects to release its results for the six months
ended 30 June 2017 on 7 September 2017.
For further information:
Filta Group Holdings plc
Jason Sayers, Chief Executive
Cenkos Securities (NOMAD and broker)
Bobbie Hilliam
Redleaf Communications (Financial PR adviser)
David Ison
Elisabeth Cowell
Elise Palmer
About Filta Group Holdings plc:
Filta Group Holdings plc (AIM: FLTA) is a provider of services
to commercial kitchens, primarily operating in the UK and US.
The cornerstone of the Company's offering is FiltaFry, the
complete fryer management service incorporating on-site
micro-filtration as well as the removal and replacement of cooking
oil.
The Company also replaces damaged or perished refrigerator and
freezer door seals through its Fita-Seal brand; installs and
maintains refrigeration units through its Filta Refrigeration
brand; and prevents the build-up of fats, oil and grease through
its FiltaDrain brand.
The Group has over 180 Franchise Owners, and teams of corporate
vans, providing services to over 5,000 restaurants and other
commercial kitchens every week.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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