logo-loader
Retail & consumerRetail
viewFranchise Brands PLC

Franchise Brands profits jump as Metro Rod starts to pull weight

As the Beast from the East thawed it was the busiest period ever dealing with cracked pipes

snow
Remember snow?

Franchise Brands PLC (LON:FRAN) swung into an interim profit as all four brands - Metro Rod, ChipsAway, Barking Mad and Ovenclean –  improved their performance.

Metro Rod, the largest of the franchise operations, completed 88,000 jobs during the period said Stephen Hemsley, executive chairman, a 15% rise on the same period a year ago.

WATCH: Metro Rod 'beginning to significantly contribute' to Franchise Brands performance

As the Beast from the East thawed in March it was its busiest period ever dealing with cracked pipes, but this was doubled-edged as it restricted higher value repair work.

Hemsley said the group is now starting to see the benefit of the work it is putting in at Metro Rod following its acquisition in 2017.

For the group overall, interim revenue jumped by 88% to £16.8mln, while underlying profits improved 41% to £1.4mln.

Recurring management fees rose by 86% to £5.4mln, while on a statutory basis the group swung from a loss of £200,000 to a profit of £1.4mln.

 “The outlook for the group remains very positive,” Hemsley added.

“Metro Rod is capable of significant growth and the investment required to unlock this potential is underway and bearing fruit.”

The interim dividend rose by 24% to 0.21p.

Quick facts: Franchise Brands PLC

Price: 92.9001 GBX

AIM:FRAN
Market: AIM
Market Cap: £73.68 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Franchise Brands PLC named herein, including the promotion by the Company of Franchise Brands PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

“A lot of businesses could benefit from professional central services,” says...

“A lot of people who operate franchises don’t do marketing, finances, recruitment or IT very well, so we use those skills we have in franchising to help the owners grow the franchise network,” Stephen Hemsley told Proactive. The executive chair of Franchise Brands PLC (LON:FRAN) also said...

on 26/3/18

2 min read