Business
Trading Update and Notice of Annual Results
Trading Update and Notice of Annual Results.
About this update from Franchise Brands Plc
[{"type":"text","content":"\n \nRNS Number : 8045Z Franchise Brands PLC 15 January 2020 \n\n15 January 2020\n \nFRANCHISE BRANDS PLC\n(\"Franchise Brands\", \"the Group\" or \"the Company\")\n \nTrading Update and Notice of Annual Results\n \nFranchise Brands plc (AIM: FRAN), a multi-brand international franchisor, provides the following trading update for the year ended 31 December 2019.\nThe 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.\nThis 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%). \nWillow 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. \nThe 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. \nThe 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).\nThe 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. \n \nNotice of results\n \nThe 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.\n \nStephen Hemsley, Executive Chairman of Franchise Brands, commented: \"The Group has delivered a strong performance in 2019, whi...