Filta Group Holdings PLC Replacement - Pre-Close Trading Update (2711Q)
February 15 2019 - 11:30AM
UK Regulatory
TIDMFLTA
RNS Number : 2711Q
Filta Group Holdings PLC
15 February 2019
The following amendment has been made to the Pre-Close Trading
Update announcement released by the Company on 14 February 2019 at
7.00am under RNS No. 9486P:
'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
2018.'
All other details remain unchanged, and the full amended text is
shown below.
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 GBP14m, up c.GBP2.5m on the prior year (FY 17:
GBP11.5m, 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
2018.
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
GBP10 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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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