StockMarketWire.com - Commercial kitchen services provider Filta swung to a first-half loss and said it would suspend dividends until visibility of the pace and scale of any market recovery had improved.

For the six months ended 30 June 2020, the company reported a pre-tax loss of £0.8m, compared with a profit of £0.5m on-year as revenue fell to £8.3m from £12.2m.

Performance was 'substantially impacted by COVID-19 lockdowns and social distancing restrictions,' the company said.

Filta added that it would not be appropriate to pay an interim dividend for 2020, but pledged to resume payments as performance progresses and visibility increases.

Filta reported signs of improving performance since the easing of lockdown measures, but remained cautious amid Covid-19 uncertainty.

'We have seen an improving sales trend in recent months with month on month revenues growing 40% in each of June and July,' the company said. 'As we look to the remainder of the second half we are mindful of the ongoing wider macro-economic uncertainty caused by Covid-19...'

At 8:07am: [LON:FLTA] Filta Group Holdings Plc share price was 0p at 98.5p



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