Franchise Brands moves back into profit

International franchisor Franchise Brands (LON:FRAN) has announced a 43% improvement in revenues during the year ended 31st December. The company returned to a profit before tax, after booking a slight loss during the previous year.

Executive chairman Stephen Hemsley commented: “Franchise Brands has made considerable progress in 2018. The investment we have made in Metro Rod to support our Vision 2023 strategy is beginning to deliver tangible benefits which I expect to become increasingly more visible in the current year and beyond as we continue to unlock the clear potential for the business. 2019 has started encouragingly, with a good trading performance across the Group’s businesses in the first two months of the year and we, therefore, look forward to the year ahead with confidence”.

“With the integration of Metro Rod now complete we can begin to turn our attention to acquisition opportunities. We will consider the selective acquisition of reasonably valued and earnings enhancing franchise businesses that can leverage our core functions, and complementary drainage and plumbing businesses which expand our scope of works“.

Shares in Franchise Brands rose by 8.65% to 73.88p (as of 12:30 GMT).