Result of AGM01/06/2017
Acquisition of Grease Management Ltd22/08/2017
Filta is providing a trading update for the six months ended 30 June 2017. The Group has experienced revenue growth of some 38% over the same period last year with each of our primary operating segments experiencing double digit growth.
We have seen strong performance in both the US and in the UK, with US growth being driven by increasing numbers of franchisees, increased royalties from our
existing franchisees and the UK growth being due, principally, to a very strong performance from our owned businesses.
While we have incurred higher overheads than last year, primarily related to the increased cost of being a public company and investments in people and systems to enable further growth in the future, our first half performance has been substantially ahead of last year and in line with market expectations.
We are confident that, with the benefit of the investment in people and systems that we have made this year, our growth path can continue for the foreseeable future through a growing franchise base and as we add further services to our existing suite. In the UK, we see many opportunities to augment our existing offerings with higher margin services to our same customer base and to expand our footprint across more of the country.
The second half has started with an encouraging level of new franchise interest and with the already larger base, your Board is confident of further growth through the remainder of the year.
The Group expects to release its results for the six months ended 30 June 2017 on 7 September 2017.