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Franchise Brands confirms significant growth in 2019 and strong start to current year

Drain maintenance group Metro Rod led the improvement with 14% higher sales

Franchise Brands PLC -
Dog grooming service Barking Mad is one of the consumer brands

Franchise Brands PLC’s (LON:FRAN) results for 2019 will show significant growth over the previous year and at least match market expectations for £40.6mln of sales and underlying profits of £5.2mln.

Drain maintenance group Metro Rod led the improvement with 14% higher sales compared with 10% growth a year earlier, while recent acquisition Willow Pumps has integrated well and broadened the range Metro Rod can offer.

WATCH: Strong performance and start to 2020 for Franchise Brands

Trading in 2020 had also started well, the AIM-listed group said, with job intake at Metro Rod and Willow Pumps up on the same period in 2019 and a strong start to the year for franchisee recruitment in the B2C brands.

A net 17 new franchisees were added over 2019 to its consumer-facing brands - ChipsAway, Ovenclean and Barking Mad – to take the number to 404.

Stephen Hemsley, executive chairman said: "The Group has delivered a strong performance in 2019, which, in combination with the recent acquisition of Willow Pumps, leaves us confident about the prospects for Franchise Brands as we enter 2020." 

"Longer-term, the Group has a significant opportunity to provide a 'Water In, Waste Out' range of drainage, pumps and plumbing-related services on a national basis,” he added.

 

Quick facts: Franchise Brands PLC

Price: 130 GBX

AIM:FRAN
Market: AIM
Market Cap: £103.34 m
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Full interview: Strong performance and start to 2020 for Franchise Brands

Franchise Brands (LON:FRAN) strong numbers for 2019 show significant growth over the previous year and at least match market expectations for £40.6mln of sales and underlying profits of £5.2mln. Executive Chairman Stephen Hemsley tells Proactive London how he intends to steer the business...

1 week, 2 days ago

2 min read