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Filta hails 'much stronger' H2 performance amid uptick in activity
StockMarketWire.com
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Fryer management group Filta said it had delivered a 'much stronger' performance in second half of the year, with an increasing number of customers opening up during the summer period.
As a consequence of the rise in service demand in the second half, margins had returned to the levels achieved in Q1 2020 following the operational improvements delivered at the end of 2019, the company said.
There was a pick-up in franchise enquiries in H2 2020, with six franchises sold, making a total of 12 in 2020.
'This gives us the confidence that we will see improved volume as and when the market restrictions are lifted, alongside greater access to credit and higher unemployment, which has historically led to a rise in demand for new franchises,' the company said.
'Whilst it is not yet possible to predict with certainty when that will be, the vaccine roll-out and the pent-up demand for our customers' services give us cause for optimism,' the company said. 'We intend to report our full year results in April, and will certainly provide a further update at that time, if not before.'
At 8:56am: (LON:FLTA) Filta Group Holdings Plc share price was 0p at 95.5p
Story provided by StockMarketWire.com
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