A provider of various services to national and independent commercial kitchen operators and owners, the principle service is FiltaFry, which is the micro-filtration of cooking oil, the vacuum-based cleaning of deep fryers and full Fryer Management.
7-Feb-2018 – 173.52p – £47.1m – PER 24.1
Trading Update For The 12 Months To End December 2017 – Revenue in excess of £13.25m (up over 30% on the prior year (FY 16: £10.1m)). Slightly reduced gross margin owing to a change in revenue mix so profit just in-line with market expectations. Organic growth strong.
Like this enough to add it to the Watchlist, 150p.
17-Apr-2018 – 197.5p – £52.6m – PER 26.9
Results For The 12 Months To End December 2017 – PBT of £1.7m (2016: loss of £0.2m) with Revenue up by 34% at £13.5m (2016: £10.1m). Service and territory expansion seems to be progressing well. Outlook confident.
Nice update, remains on my Watchlist at 150p but perhaps it’s worth paying up here now. Will keep an eye on this this morning.
Subsequent note: Meeting my Technical Screen and after checking and liking the fundamentals I bought in here at the beginning of June.
5-Jun-2018 – 209p – £56.7m – PER 24.8
Trading Update – Strong progress YTD, in-line with management expectations. However, a weak USD has impacted revenue with EBITDA 11% ahead (23% CC).
I am long here and will remain so for now. I will however keep a close eye here on the market reaction to this USD impact.
10-Aug-2018 – 229p – £57.0m – PER 24.1
Trading Update For The 6 Months To End June 2018 – H1 Revenue and Profit in-line with management expectations – Confident for H2 to and beyond.
I hold here and although this is a reasonable update it does sound rather cautious – I remain long but will, as always, keep an eye on market reaction here.