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Franchise Brands continues share buy-back programme into 2019

The group expects the programme will offset the dilution caused by employee share issues
Dowgate Capital will buy shares on the company's behalf

Franchise Brands plc (LON:FRAN) has announced a continuation of its share buy-back programme, with up to £200,000 of shares to be purchased before June 30.

The cash generative group said the programme is an offset to the dilutive impact of employee share option awards.

It is being assisted by Dowgate Capital Stockbrokers which will carry out on-market purchases of shares on the company’s behalf, including during closed periods for the company.

READ: Franchise Brands lays the foundations for another 10 years

The company owns four main brands - drains specialist Metro Rod, car body repairer ChipsAway, dog groomer Barking Mad and Ovenclean - and it has just celebrated its tenth anniversary.

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

In the first half of the current year, MetroRod, which deals with problems with commercial premises, generated MSF income of £3.5mln, or a run-rate of £7mln per year, but the plan is to boost this four-fold.




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