Revenues bubble higher at Filta Group

Commercial kitchen fryer management services provider Filta Group Holdings was holding its annual general meeting on Thursday morning, with the board reporting a “strong start” to the year, claiming revenues were more than 25% ahead of the same period 12 months earlier on a constant currency basis.

The AIM-traded company said all of its business lines, franchise development, fryer management services and company-owned operations contributed to the growth

“During the period we have added £0.2m to deferred revenue from franchise territory fees to be recognised during the remainder of the current year and in future years,” the update read.

“An important factor in the company's growth has been the new customers secured in the last quarter of 2016 who will provide a full year's contribution in the current year.”

That - the fact that the majority of Filta’s revenue was repeat business, and that there continued to be an encouraging level of enquiries from potential high quality new franchisees - gave the board “confidence” in its outlook for the full year “and beyond”.