Hardman & Co Research: FOG is lifting
Filta Group (Filta) announced that it remained EBITDA-positive in 1H'20, despite most of its customers closing for part of the period. Business is returning as customers reopen, with sports stadia expected to be the last to resume catering. Filta has used the period to reduce costs and improve its business model. We expect it to emerge as an even better business when COVID-19 is tamed. Our 2020 forecasts remain suspended..
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