Filta earnings boosted by improved revenues and wider margins

(Sharecast News) - Oil filtration and fryer management business Filta expects to report stronger revenues from 2018 and see continued progress in 2019.Filta expects to turn in an EBITDA and net profit "in line with expectations" thanks to a 21.7% increase in revenues to £14m in the year ended 31 December and a stronger gross margin of roughly 50%.The AIM-listed group said it had enjoyed "good growth" in all of its continuing businesses and told investors that it had entered the new year "with a strong pipeline of prospective franchisees, increasing repeat business levels in the company-owned activities and a significant presence in the fats, oils and grease market" following its acquisition of Watbio in December 2017.Filta also highlighted its move into Europe as being "very encouraging" and said its North American business continued to attract "high levels of interest".Chief executive Jason Sayers said: "2018 was a year of significant progress for the group.""With Watbio expected to add over £10m of revenues to the group and with the existing businesses performing strongly, we look forward to the progress seen in 2018 continuing through this year and beyond."As of 1020 GMT, Filta shares had picked up 1.45% to 234.35p.