Filta Group (FLTA) - Strong recovery continues
Filta Group (Filta) announced 1H’21 results in line with expectations. Our forecasts are largely unchanged. What is even more clear is that the business has performed robustly during COVID-19, adding new clients and becoming an important part of its clients’ processes. Revenues were back to 80% of 1H’19, with the US leading the way, and with its largest clients yet to reopen, Filta is emerging from this fog stronger than ever. Assuming that there is no reversion to widescale lockdowns, our forecasts should prove conservative.Filta Group Holdings is a holding company. Through its subsidiaries, Co. is engaged in the franchising of on-site environmental kitchen solutions to restaurants, catering establishments and institutional kitchens. The services include microfiltration of cooking oil, fryer cleaning, temperature calibration, waste oil disposal and specially designed filters for refrigeration units and coolers. Co. sells franchises and operates in the United Kingdom and the United States. Additionally, Co. operates two direct sale businesses including refrigeration seal replacement and the installation, repair and maintenance of refrigeration and aircon units.
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