Franchise Brands PLC Trading Update and Notice of Annual Results (8045Z)
15 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMFRAN
RNS Number : 8045Z
Franchise Brands PLC
15 January 2020
15 January 2020
FRANCHISE BRANDS PLC
("Franchise Brands", "the Group" or "the Company")
Trading Update and Notice of Annual Results
Franchise Brands plc (AIM: FRAN), a multi-brand international
franchisor, provides the following trading update for the year
ended 31 December 2019.
The Board expects the Group's revenue and profits for the year
to 31 December 2019 to be at least in line with consensus market
expectations* which represents significant growth over the prior
year.
This strong performance was driven by accelerating year-on-year
momentum in the top-line growth generated by the Group's excellent
Metro Rod franchisees, which resulted in System Sales growth of 14%
in the year (2018: 10%).
Willow Pumps, which was acquired in October 2019, is trading in
line with the Board's expectations and the integration of the
business into the Group is progressing well.
The Board is delighted that the Metro Rod network has already
begun to embrace the significant opportunities afforded by this
acquisition in the specialist pump sector. During November and
December, Willow Pumps hosted the Metro Rod network at a series of
'Discovery Days' that provided a forum to discuss the strategic
opportunities and practical ways in which the network can develop
its expertise to offer a full range of drainage, pumps and
plumbing-related services.
The B2C brands (ChipsAway, Ovenclean and Barking Mad) continue
to be strongly cash-generative and have achieved a pleasing upturn
in recruitment in 2019, recruiting 65 new franchisees in the year
(2018: 57). This has taken the total number of UK franchisees in
the B2C businesses to 404 (2018: 387).
The Board is also pleased to report that trading in 2020 has
started well, 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.
Notice of results
The full results for the year ended 31 December 2019 are
expected to be announced on 5 March 2020 and the Board looks
forward to updating shareholders with further details at that
time.
Stephen Hemsley, Executive Chairman of Franchise Brands,
commented: "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."
"The addition of Willow Pumps to the Group represented an
important step in expanding Metro Rod's scope of services to the
commercial market, consistent with our Vision 2023 strategy."
"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. I am delighted with
the success of the Willow Pumps 'Discovery Days' at the end of 2019
that has provided both focus and impetus for the Metro Rod
franchise network to grow their above-ground and below-ground pump
capabilities. We look forward to an exciting year ahead."
*Consensus market expectations are as follows:
-- Revenue: GBP40.55m
-- Adjusted EBITDA: GBP5.15m
-- Adjusted EPS: 4.26p
Enquiries:
+44 (0) 1562
Franchise Brands plc 826705
Stephen Hemsley, Executive Chairman
Chris Dent, Chief Financial Officer
Julia Choudhury, Corporate Development
Director
Allenby Capital Limited (Nominated Adviser +44 (0) 203
and Joint Broker) 328 5656
Jeremy Porter / Liz Kirchner
+44 (0) 203
Dowgate Capital Limited (Joint Broker) 903 7715
James Serjeant / Colin Climie
+44 (0) 203
MHP Communications (Financial PR) 128 8794
Katie Hunt
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END
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