Filta Group Holdings PLC Trading Update and COVID-19 response (2542H)
23 Marzo 2020 - 04:15PM
UK Regulatory
TIDMFLTA
RNS Number : 2542H
Filta Group Holdings PLC
23 March 2020
23 March 2020
Filta Group Holdings plc
("Filta", the "Company" or the "Group")
Trading Update and COVID-19 response
Filta Group Holdings PLC (AIM: FLTA), a provider of fryer
management and other services to commercial kitchens, provides the
following update on its trading and measures taken in response to
the COVID-19 pandemic.
Filta's trading through February was in line with management's
expectations, building on the cost savings and efficiencies
introduced in 2019.
Beginning last week, we started to experience a slowdown in
incoming order flow as a consequence of the spread of COVID-19,
which will result in a reduction in our service volumes.
We have little visibility at this time as to how long the
restrictions on the use of sporting venues, colleges, restaurants
and other such customers will be in place or, indeed, how quickly
consumers will return to normal habits following lifting of the
restrictions. We have taken a number of steps to protect the
Company and its staff, franchisees and customers during this
time.
Specifically, we are working with our franchisees and our direct
customers to help them through this difficult period. We have also
taken steps to reduce our overheads by stopping all non-essential
spend and reduced working hours and salary waivers with all
staff.
Given the current need for prudent cash management, the Board
will not be recommending the payment of a final dividend in respect
of the year ended 31 December 2019.
We are confident that, taking account of our current cash and
available resources, the actions that we have taken will protect
our business for a period well in excess of that which the
government and its medical advisers are indicating as the likely
duration of the crisis. We will provide a further update when
publishing our 2019 results next month and earlier if there are any
significant changes in circumstances.
Our priority remains the health and wellbeing of our employees
and customers and we are continuing to ensure that we have the
appropriate measures and precautions in place for their safety.
This announcement contains inside information
For further information:
Filta Group Holdings plc
Jason Sayers, Chief Executive
Officer
Brian Hogan, Chief Financial
Officer +1 407 996 5550
Cenkos Securities
Stephen Keys, Harry Hargreaves +44 20 7397 8900
Yellow Jersey PR
Charles Goodwin
Joe Burgess
Henry Wilkinson +44 7747 788 221
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END
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