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Business & education services

Filta Group buoyed by revenue bounce back

Sales recovered especially well in North America, said the cleaning group

Filta Group Holdings PLC (AIM:FLTA) said business recovered strongly through 2021 as hospitality venues started to reopen and is now running ahead of pre-pandemic levels.

The group, which provides kitchen equipment cleaning and maintenance services to fast-food chains, said revenues hit record levels in the third and fourth quarters of last year, helping the group generate total sales of £23.6mln (£16.4mln).

Sales had recovered especially well in North America, Filta added, where sales grew 82% year-on-year to a record of £14.2mln.

UK operations, meanwhile, picked up in the second half with annual revenues of £8.9m, up 10% on 2020.

New business has also been healthy, added the AIM-listed group, with its new Cyclone grease removal unit (GRU) now installed in 19 outlets in Europe.

Trading in 2022 so far had also been encouraging, Filta added, with January revenue up 62% over a year ago.

Jason Sayers, chief executive, said: "I am delighted with the group's performance in 2021 despite the ongoing challenges from COVID-19.

"The significant growth in revenue, whilst managing these challenges, is a testament to both the resilience of our business model and the exemplary efforts from all of the Filta team.

“We plan to build on this performance in 2022 and remain confident in our ability to deliver continued growth in the coming year."

Filta finished the year with net cash of £0.7mln (2020: net debt £1.6mln).

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