Updates

Filta Group

December 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Investors have (wrongly in my view) thrown the baby out with the bathwater and sold down Filta after an update that said operating profit for H2 19 would be similar to H1. On the franchise side, trading in North America and Europe through Q3 is humming along. The only fly in the ointment was that cost-savings from the Watbio acquisition have been delayed - but we are talking a few months. Filta said it remains confident of realising the planned efficiencies by the end of December, to deliver savings of £100,000 per month. Revenue continues to be on track and some extra investment has been made in UK sales staff to maximise the revenue opportunities. Eps forecasts for FY19 are therefore cut to 3.3p but FY20’s are retained at 1 ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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