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Hardman & Co Research (FLTA)

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Tuesday 05 November, 2019

Hardman & Co Research

Filta Group (FLTA): FY19 trading update

Hardman & Co Research
Hardman & Co Research: Filta Group (FLTA): FY19 trading update

05-Nov-2019 / 10:05 GMT/BST


Hardman & Co Research: FY19 trading update

Filta Group (Filta) provides cleaning services to commercial kitchens in North America, the UK and, mainland Europe. The company reported that EBITDA for 2H19 would be similar to 1H19 and thus below our expectations. The cost-saving benefits of the Watbio acquisition are still taking longer than expected. Revenue continues to be on track and some extra investment has been made in UK sales staff to maximise the revenue opportunities. We cut our EBITDA expectations for 2019 from £4.2m to £3.3m. Our 2020 expectations are unaltered.

Please click on the link below for the full report:

https://www.hardmanandco.com/research/corporate-research/fy19-trading-update/

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About Hardman & Co: For the past 22 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge.  Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

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End of Announcement - EQS News Service

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