14 Feb 2019 07:00
14 February 2019
Filta Group Holdings plc
("Filta", the "Company" or the "Group")
PRE-CLOSE TRADING UPDATE
Filta Group Holdings plc (AIM: FLTA), a provider of fryer management and other services to commercial kitchens, provides its trading update (unaudited) for the financial year ended 31 December 2018.
The Group expects to report revenue, from continuing operations, in excess of £14m, up c.£2.5m on the prior year (FY 17: £11.5m, which excludes the revenues from Filta Refrigeration). We expect to report improved gross margins at approximately 50% across the Group and that EBITDA and net profit will be in line with expectations.
We have enjoyed good growth in all of our continuing businesses and enter 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 ("FOG") market following the acquisition of Watbio in December 2017.
Jason Sayers, Chief Executive Officer, commented:
"2018 was a year of significant progress for the Group. Following the acquisition of FiltaGMG in August 2017, we are pleased to report that business has been fully integrated into our Company-owned activities. Our move into Europe has been very encouraging with 8 new franchises sold, and the North American business continues to attract high levels of interest. We completed the acquisition of Watbio at the end of the year and since that time, we have been very encouraged by the opportunities this business brings to the Group. With Watbio expected to add over £10 million 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."
The Group expects to report its 2018 results on 15 April 2019.
For further information:
Filta Group Holdings plc +1 407 996 5550
Jason Sayers, Chief Executive Officer
Brian Hogan, Finance Director
Cenkos Securities (NOMAD and Broker) 020 7397 8900
Stephen Keys
Harry Hargreaves