5 Jun 2018 07:00
5 June 2018
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 10.00am today:
"The Company has made strong progress in the year to date, with 6 new franchises, including one in both of our newest operating locations Canada and Germany, and a total of 17 MFU sales. Our existing franchises and Company-owned operations are performing in line with management expectations, and we are seeing an increasing contribution from FiltaGMG as our organisational improvements take effect.
"Despite the adverse impact of a weak US dollar on our revenues through the early part of the year, EBITDA for the year to date is approximately 11% ahead of the same period last year, equating to growth of approximately 23% at a constant exchange rate.
"We currently have a good pipeline of enquiries from high-quality aspiring franchisees in both North America and Europe, and the Board therefore has confidence in the prospects for the current year as well as the outlook for subsequent periods."
For further information:
Filta Group Holdings plc | +1 407 996 5550 |
Jason Sayers, Chief Executive Brian Hogan, Finance Director | |
Cenkos Securities (NOMAD and broker) | +44 (0)20 7397 8927 |
Stephen Keys | |
Harry Hargreaves |
About Filta Group Holdings plc:
Filta Group Holdings plc (AIM: FLTA) is a provider of services to commercial kitchens, primarily operating in the UK, North America and mainland Europe.
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 FiltaSeal brand; and prevents the build-up of fats, oil and grease through its FiltaGMG brand.
The Group has over 180 Franchise Owners, and teams of corporate vans, providing services to over 6,000 commercial kitchens and restaurants every week.