Shares in Filta Group Holdings PLC (AIM:FLTA) were up 5% after the company said it expected its earnings to be ‘slightly’ ahead of market expectations after a strong third-quarter performance.
The company, which provides fryer management and kitchen services, said revenues in the three months just ended were 10% higher than pre-pandemic levels and 63% up on the same period last year. This was driven by higher waste oil collections and increased equipment sales.
The stock advanced 7p to 148.5p. Pointing out that Filta trades on just 9.1-times underlying earnings (EBITDA), broker Cenkos said: “Given the group’s improving prospects and increasingly supportive macro drivers, we believe Filta remains attractively valued.”
Cenkos repeated its ‘buy’ recommendation.