Macclesfield franchise firm sees revenues rise to over £20m

Stephen Hemsley

Macclesfield based Franchise Brands saw a 19% increase in revenues to just over £20m last year.

Adjusted EBITDA increased by 25% to £2.5m and profit before tax increased by 27% to £1.8m.

The firm issued an interim report and said its Metro Rod’s “Vision 2023” strategy is delivering increasingly tangible benefits.

And there has been substantial improvement in franchise recruitment at ChipsAway, Ovenclean and Barking Mad compared to the same period last year.

Stephen Hemsley, executive chairman, said: “Franchise Brands has delivered a strong performance in the first half of 2019 driven primarily by Metro Rod’s accelerating rate of growth.

“We have made significant progress with our strategy at Metro Rod and have begun to realise the benefits of our investment in infrastructure – in particular IT – that is starting to unlock sales growth, efficiencies and improved customer service, enhancing both corporate and franchisee profitability.

“All of our profitable, cash generative B2C brands have seen a substantial improvement in franchise recruitment compared to the challenging second half of last year and ChipsAway is increasingly well positioned for the rapid changes underway in the automotive sector in particular in relation to ADAS and the growth of electric and hybrid vehicles.

“The outlook for the group therefore remains very positive, with the combination of accelerating organic growth and the potential for prudently financed, earnings-enhancing complementary acquisition opportunities giving us the confidence of delivering further significant growth in earnings and dividends in the current year and beyond.”

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