In 1997, Jason Sayers, a 26-year-old cricketer, captained the Weybridge 1st XI. One of his cricket friends worked in teams at a local restaurant and burned himself one night as he cleaned the fryer in the kitchen.
Sayers said there was a safer way to empty the hot oil into a bucket under the fryer. He toured the city and finally found a factory in Harrogate where engine oil was filtered.
The foreman changed the team and Filta was in business.
Now represented in the AIM Junior Market, Filta specializes in the management of fats, oils and fats for commercial kitchens.
Last year alone, Filta saved around 10,000 tons of cooking oil for its customers, including McDonald's, KFC and Pizza Hut, as well as Hilton hotels and stadiums for US sports teams. UU., Like Washington Redskins and the Colorado Rockies.
The shares are valued at £ 1.56 and are expected to appreciate as the company develops rapidly and has significant development opportunities.
Headquartered in Rugby, Warwickshire, Filta has evolved significantly over the years, expanding into the US and Germany and developing various services along the way.
The first fryer cleaning company works with more than 6,000 customers a week to drain and filter its oil. It uses a process that is not only safer than traditional processes, but also environmentally friendly because most fat can be reused
Last year alone, the group saved nearly 10,000 tons of cooking oil for its customers, including McDonald's, KFC and Pizza Hut, as well as Hilton hotels and stadiums for US sports teams. UU., Like Washington Redskins and the Colorado Rockies.
The group even cleans hospital fryers, including Cedars-Sinai, in a health-conscious California.
The Harrogate plant continues to supply Filta with its fryer cleaning equipment, but the company is franchised: the equipment is leased to approximately 200 franchisees on both sides of the Atlantic.
Although Filta is virtually the only company that offers cleaning and filtering services for deep fryers, it owns less than 2% of the total market, and most restaurants, hotels, etc. clean their tanks themselves.
For Sayers, this is a great opportunity as the Filta process is much more efficient than the self-help solution. As soon as customers use the service, they very rarely stop.
Headquartered in Rugby, Warwickshire, Filta has evolved significantly over the years, expanding into the US and Germany and developing various services along the way.
Sayers also specializes in related areas, including the installation and maintenance of a special kit that separates oil from water when commercial kitchens wash dishes.
This department operates in the United Kingdom, where restaurants, hotels and other major oil users are required by law to safely dispose of garbage so as not to hinder drains and sewers. Filta was already well known in the field, but last year he bought his main rival Watbio.
The agreement has given Filta a strong national presence, unlike most operators in the sector, which are generally small and local.
The size makes the difference in this sector and is one of the customers of the owners of Mitchells & Butlers, All Bar One and Harvester and several large supermarkets.
With the acquisition of Watbio, Filta will gain better purchasing power and sales after acquiring additional sellers. Over time, further growth is expected as the expanded Filta Group adds new customers, sells more to existing customers and benefits from increasingly stringent environmental legislation.
Filta even collects waste oils for use in biodiesel and provides customers with environmental impact reports to see how they reduce their carbon footprint by reusing and recycling fats and fats.
The company also has a refrigerator sealing business that replaces the seals used in commercial kitchens, another energy-saving process.
Semi-annual figures published last week showed strong growth, and brokers anticipate sales growth of 82% to £ 26m in 2019 and a doubling of the dividend to 3.2%. ,
Due to the costs associated with the Watbio transaction, this year's earnings are expected to remain stable at £ 2.8m. However, strong growth is expected in 2020 and beyond.
RELEASED: MEDICAMENTS FOR PETS
Dogs have always played an important role in Korean life. Once they were on the menu of the restaurant. Today they are more often seen at the end of a track.
This change is part of a broader trend in emerging markets, with ownership of pets becoming a status symbol for budding consumers.
The more people have cats and dogs, the more money they will spend on the care of Dechra Pharmaceuticals, which manufactures and sells pet and animal medicines.
The more people have cats and dogs, the more money they will spend on the care of Dechra Pharmaceuticals, which manufactures and sells pet and animal medicines.
Midas initially recommended the stock for the year 2008 at a price of £ 3.97. We also recommend it in 2015 when the price rose to £ 9.85. Last Friday, equities closed at £ 28.90 after almost tripling in the last four years.
Ian Page, a longtime CEO, is optimistic about the future, and recent figures suggest that he has good reasons for doing so.
The 30 June annual results released earlier this month showed a 17.5% increase in sales to £ 482m and an increase in underlying earnings of 27% to £ 127m. Pound sterling and a dividend increase of 24% to 31.6%. The company's performance is all the more impressive as many of its peers have been struggling lately, and Dechra has struggled to cope with increasingly stringent regulations and potential problems with the Brexit No Deal.
The resilience of the group is largely based on a simple but effective strategy: Listen to the needs of veterinarians and develop products that meet these needs, especially in specific areas. Dechra's top-selling drug, for example, is vetoryl, which is used to treat dogs with Cushing's disease, a hormonal disorder.
Originally, Dechra was only active in the United Kingdom. Today it is sold to veterinarians around the world.
A little more than 70% of the turnover is in pets, but the group is also seeing strong growth in products for cattle and horses. Dechra makes half of the drugs sold and buys the rest from third-party manufacturers.
Over time, Page wants to produce more drugs internally, and the company has a solid portfolio that includes treatment for diabetes in dogs and cats, which can be injected weekly rather than daily. This is an undeniable advantage for animals and their owners.
Growth must also be driven by geographic expansion and selected acquisitions, as over the years, Page has acquired and successfully integrated several businesses into its operations. Brokers expect continued growth in sales, profits and dividends over the next year and beyond.
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