1 Jun 2017 07:00
1 June 2017
Filta Group Holdings plc
("Filta" or the "Company")
Trading Update
Filta Group Holdings plc (AIM: FLTA), the provider of fryer management and other services to commercial kitchens, will make the following statement regarding current trading at its Annual General Meeting to be held at 11.00am today:
"We have enjoyed a strong start to the year with revenues for the first 4 months, on a constant exchange rate basis, over 25% ahead of the same period last year, with all of our business lines, franchise development, fryer management services and Company-owned operations contributing to the growth. During the period we have added £0.2 million to deferred revenue from franchise territory fees to be recognised during the remainder of the current year and in future years.
An important factor in the Company's growth has been the new customers secured in the last quarter of 2016 who will provide a full year's contribution in the current year. This, the fact that the majority of our revenue is repeat business and that there continues to be an encouraging level of enquiries from potential high quality new franchisees gives the Board confidence in the outlook for the full year and beyond."
For further information:
Filta Group Holdings plc | via Redleaf Communications |
Jason Sayers, Chief Executive | |
Cenkos Securities (NOMAD and broker) | +44 (0)20 7397 8927 |
Bobbie Hilliam | |
Harry Pardoe | |
Redleaf Communications (Financial PR adviser) | filta@redleafpr.com |
Rebecca Sanders-Hewett | +44 (0)20 7382 4730 |
David Ison | |
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.