16 Jun 2021 07:00
16 June 2021
Filta Group Holdings plc
("Filta", the "Company" or the "Group")
AGM Statement
Filta Group Holdings PLC (AIM: FLTA), a provider of fryer management and other services to commercial kitchens, provides the following trading update ahead of its Annual General Meeting to be held at 11.00 a.m. today:
"As outlined in the announcement made on 08 June 2021, the Company is pleased to report that it continues to experience an increasing level of demand for its services in all of its operating territories, with a clear link to the success of the vaccine rollouts and exiting of the lockdown phases.
"In the US, there has been a faster than anticipated reopening of the hospitality and leisure sectors, with strong growth during the first part of the year and expectations for further growth as Filta's larger customers, particularly sports stadia and universities, open up during the third quarter.
"Although the reopening of the sector has been more cautious in the UK than in the US, there is some momentum building, albeit that full reopening is now to be held back for a further month until later in July. However, as previously reported, the Company has benefitted from its focus on supermarkets and fast food chains and, as such, we believe that the recovery of UK revenue streams will not be impacted by the delay to reopening. We will continue to monitor developments in the UK going forward.
"Europe continues to lag both the US and the UK in terms of both the vaccine delivery and the reopening of business but the Company has, nonetheless, continued to develop new business opportunities and believes that as widespread vaccination is achieved, businesses will reopen and the hard work that has been put in will result in more signings of new franchisees."
Contacts:
Filta Group Holdings plc
Jason Sayers, Chief Executive Officer Brian Hogan, Chief Financial Officer | +1 407 996 5550 |
Cenkos Securities
Stephen Keys, Camilla Hume | +44 20 7397 8900 |
Yellow Jersey PR
Charles Goodwin Joe Burgess Henry Wilkinson
| +44 7747 788 221 |
About Filta Group
Filta Group is a market-leading, commercial kitchen services business, servicing restaurants, supermarkets, stadiums, healthcare, education, hotels and amusement parks. Trusted by many global brands, we specialise in Fryer Management and Grease & Drain Management, servicing businesses that require regular maintenance. For more information visit our website: https://filtaplc.com.