Business
Half-year results
Half-year results.
About this update from Franchise Brands Plc
[{"type":"text","content":"\n \nRNS Number : 7956V Franchise Brands PLC 26 July 2018 \n\n \n26 July 2018\nFRANCHISE BRANDS PLC\n(\"Franchise Brands\", \"the Group\" or \"the Company\")\n \nHalf year results for the six months ended 30 June 2018\n \nA very positive outlook for the Group as Metro Rod strategy delivers\n \nFranchise Brands plc (AIM: FRAN), a multi-brand international franchisor, is pleased to announce its unaudited half year results for the period ended 30 June 2018. \n \nFinancial highlights\n· Statutory revenue up 88% to £16.8m (H1 2017: £8.9m).\n· Recurring Management Service Fee (\"MSF\") income up 86% to £5.4m (H1 2017: £2.9m) and is now 64% of total fee income (H1 2017: 57%).\n· Adjusted EBITDA* increased by 46% to £1.8m (H1 2017: £1.3m).\n· Adjusted profit before tax* up 41% to £1.4m (H1 2017: £1.0m).\n· Profit before tax of £1.4m (H1 2017: loss of £0.2m).\n· Statutory profit after tax of £1.2m (H1 2017: loss of £0.2m). \n· Cash generated from operating activities of £1.5m (H1 2017: £0.7m). \n· Strong cash conversion of 83% (H1 2017: 54%).\n· Net debt of £5.5m at 30 June 2018 (31 December 2017: £6.3m).\no Gearing at 30 June 2018 of 23% (31 December 2017: 27%). \n· Basic and adjusted EPS* of 1.5p (H1 2017: basic loss of 0.40p; adjusted profit of 1.3p).\n· Interim dividend of 0.21p per share declared, an increase of 24% (H1 2017: 0.17p per share). \n \nOperational highlights\n· 41 new franchisees recruited (H1 2017: 49).\n· Continuing significant investment in IT: included new telephone technology and works management automation. \n· Launch of Metro Rod \"Vision 2023\" to accelerate business growth.\n· Establishment of Exeter as Metro Rod corporate franchise.\n· Completion of 88,000 jobs at Metro Rod, an increase of 15% from the equivalent period in 2017.\n \n*Adjusted items are before costs of acquisitions of subsidiaries, costs of transition of subsidiaries, exceptional bad debt provision and IPO expenses and, i...