Filta Group looks to clean up as kitchens return to business

Filta Group is a market-leading, commercial kitchen services business, servicing restaurants, supermarkets, stadiums, healthcare, education, hotels and amusement parks.

Used by many global fast food restaurant brands, the group specialises in fryer and grease & drain management, servicing businesses that require regular maintenance.

Filta Group Holdings PLC (AIM:FLTA) said its underlying earnings (EBITDA) for the year would be slightly ahead of analysts’ forecasts after a strong third-quarter’s trading continued into October.

The company, which provides fryer management and kitchen services, said revenues in the three months just ended were 10% higher than pre-pandemic levels and 63% up on the same period last year. This was driven by higher waste oil collections and increased equipment sales.

In the same announcement, the group set out its environmental goals, including having a net-zero impact on the environment by 2035.

Filta pointed out that, through its proprietary FiltaFry process, it helped US customers save over nine million litres of cooking oil last year.

Filta Group Holdings PLC (AIM:FLTA), the fryer management and commercial kitchen services specialist, plans to resume dividend payments if current trading trends continue this financial year.

In its results statement for the first half of the year, the group revealed that the underlying market fundamentals continued to improve in its primary markets of North America, the UK and mainland Europe.

Filta Group Holdings PLC (AIM:FLTA) (LON:FLTA) said it has made a strong start to the financial year.

The fryer management and commercial kitchen services specialist said revenues in the first half were up 20% compared with the final six months of last year. Within that, the second-quarter performance was 29% ahead of the first three months.

Shares in Filta Group Holdings PLC (AIM:FLTA) were up 5% after the company said it expected its earnings to be ‘slightly’ ahead of market expectations after a strong third-quarter performance.

The company, which provides fryer management and kitchen services, said revenues in the three months just ended were 10% higher than pre-pandemic levels and 63% up on the same period last year. This was driven by higher waste oil collections and increased equipment sales.

The stock advanced 7p to 148.5p. Pointing out that Filta trades on just 9.1-times underlying earnings (EBITDA), broker Cenkos said: “Given the group’s improving prospects and increasingly supportive macro drivers, we believe Filta remains attractively valued.”

Filta Group Holdings PLC (AIM:FLTA) chief executive Jason Sayers joined Proactive’s Stephen Gunnion with details of a trading update after strong third-quarter trading continued into October.

Sayers telling Proactive that the company has also laid out its environmental goals, including a net-zero impact on the environment by 2035.