Filta Share Discussion Threads

[ramridge] 05/12/2016 14:15

OK. I have re-calculated adding back £0.7m bonus to net profit and the forecast PE on today's price comes to over 23 (assuming 50% profit increase from 2015 to 2016).
Still too rich for an IPO.
Please DYOR

[nurdin] 05/12/2016 14:05

Just found out that the profit numbers include a one off bonus payment of £0.872m to some Directors..That brings the PE to more sensible levels.

[ramridge] 05/12/2016 14:01

Nurdin - came to the same conclusion as you have.
Looking at at from different angle, current M Cap = 27m shares*114p which gives £30m approx
From admission doc, profit after tax @ end dec 15 was £302k.
Lets double it to be generous ; so projected PE = 30m/600k = 50

Not for me. Some people are going to get their fingers burnt.

[nurdin] 05/12/2016 12:57

Now trading at around 18x current years estimated earnings ,based on SCSW s 15x (adjusted for cash) at 95.5p (I assume)

[masurenguy] 05/12/2016 12:51

This company listed on AIM 4 weeks ago.

Filta Group Holdings plc

Admission and First Day of Dealings

04 November 2016: Filta Group Holdings plc is pleased to announce its admission to trading on AIM today. Dealings in the Company’s ordinary shares will trade under the TIDM “FLTA.L”. Filta is the provider of a number of services to national and independent commercial kitchen operators and owners. Its principle service is FiltaFry, which is the micro-filtration of cooking oil, the vacuum based cleaning of deep fryers and full Fryer Management. The Group’s core business operations are within the UK and US. The US operations are exclusively operated as a franchise network, while the UK activities are operated under both franchise and direct sale business models. Filta, through its FiltaFry franchise network, services over 5,000 commercial kitchens every week. As at 30 June 2016, the Group had 169 Franchise Owners, of which 130 were located in the US and 39 in the UK.

Summary of the placing
The placing raised £6.2m (gross), of which £4.3m was raised by the Company to enter into new local markets (including Canada and Europe), expand into new product market, including drains and grease trap solutions and as general working capital and £1.9m was raised for a selling shareholder. The number of ordinary shares in issue immediately after admission will be 26,952,659, giving the Company a market capitalisation of £22.4m at the placing price of 83p per ordinary share. Cenkos Securities is acting as Nominated Adviser and Broker to the Company.

Jason Sayers, CEO of Filta, commented: “Today marks an important milestone in the continued growth of Filta. Our listing allows us to accelerate the growth of our franchise network in the US and UK, the markets they serve and the services they provide. Further it allows the Group to continue to grow its direct services to assist commercial kitchen operators. Our focus will continue to be on growing our recurring revenue base to create value for all shareholders.”

[sranmal] 05/12/2016 09:18

Filta Group floated on 4 Nov 2016 and provides a number of services to national and independent commercial kitchen operators and owners in the UK and US. Its principle service is FiltaFry, which is the micro-filtration of cooking oil, the vacuum-based cleaning of deep fryers and full Fryer Management. The US operations are exclusively operated as a franchise network, while the UK activities are operated under both franchise and direct sale business models. Filta, through its FiltaFry franchise network, services over 5,000 commercial kitchens every week. As at 30 June 2016, the Group had 169 Franchise Owners, of which 130 were located in the US and 39 in the UK.

Current year sales to end Dec 2016 are forecast at £9.6M by Cenkos, with £11.3M and £13.2M for the following 2 years.

Company website: hxxp://filta.co.uk/