7th Feb 2022 10:23
(Alliance News) - Filta Group Holdings PLC said on Monday that it had seen significant revenue growth in 2021 despite the ongoing challenges of Covid-19.
Shares in Filta were up 11% at 144.95 pence on Monday morning in London.
The Rugby, England-based cooking oil filtration and fryer management services company said revenue had recovered strongly in 2021 and were now running at higher levels than they were before the impact of the pandemic.
In 2021, revenue rose 44% to GBP23.6 million from GBP16.4 million the previous year. Filta said that this performance was led by a strong and early recovery in North America where sales grew 82% to a record of GBP14.2 million from GBP7.8 million.
In the UK, Filta said the return to normality was slower. Despite this, full-year UK revenue was up 10% to GBP8.9 million in 2021.
The company said trading in the new year has continued to be positive with January revenue up 62% over the same period the previous year.
Chief Executive Jason Sayers 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."
The company expects to announce its full-year results on April 12.
By Heather Rydings; [email protected]
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