Filta reports strong first half performance

Filta Group unveiled on Monday a double-digit increase in its first half sales while sounding a confident note on the prospects for further growth.

For the six months ended 30 June 2017, revenue growth was 38% ahead of the same period last year and each of its primary operating segments experienced double digit growth, the company said in a statement.

Filta said it saw a strong performance in both the US and in the UK, with growth in the States driven by increasing numbers of franchises and higher royalties from its existing franchises while UK growth was due to a very strong performance from owned businesses.

Despite increased overheads because it was now a listed compaby and investments in people and systems, management said its latest results were in-line with market expectations.

Furthermore, according to the company the second half of the year had started with an "encouraging" level of new franchise interest.

Together with its already enlargened base, that led management to say they were confident of "further growth through the remainder of the year".

The company said: "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 company's shares were up 10.00% to 137.50p by 09:40 BST.