AGM and Q1 Trading Statement

RNS Number : 9961L

Franchise Brands PLC

25 April 2018

 

25 April 2018

FRANCHISE BRANDS PLC

("Franchise Brands", the "Company" or the "Group") 

AGM and Q1 Trading Statement

Franchise Brands plc (AIM: FRAN), an international multi-brand franchisor, will hold its Annual General Meeting today at 11.00am, at which Stephen Hemsley, Executive Chairman, will provide the following update:

"Group trading in the three months to 31 March 2018 has been marginally ahead of management's expectations. In particular, the number of jobs completed by Metro Rod and Metro Plumb was up by 16% year-on-year to record levels, although the average order size was slightly lower due to the heavy rain and snow resulting in more lower value emergency plumbing and drainage jobs. Costs were well-controlled with the headcount at Metro Rod falling by 16% year-on-year, as the benefits of the IT investment in that business start to become apparent. The Board looks forward to the remainder of the year with confidence."

Enquiries:

Franchise Brands plc	+ 44 (0) 1562 826705
Stephen Hemsley, Executive Chairman
Chris Dent, Chief Financial Officer Julia Choudhury, Corporate Development Director
Allenby Capital Limited (Nominated Adviser and Joint Broker)	[phone]
Jeremy Porter/ Liz Kirchner
Dowgate Capital Stockbrokers (Joint Broker)	[phone]
James Serjeant
MHP Communications (Financial PR)	[phone]
Katie Hunt

 

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