25 Apr 2018 07:00
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 |
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Chris Dent, Chief Financial OfficerJulia Choudhury, Corporate Development Director |
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Allenby Capital Limited (Nominated Adviser and Joint Broker) | +44 (0) 203 328 5656 |
Jeremy Porter/ Liz Kirchner |
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Dowgate Capital Stockbrokers (Joint Broker) | +44 (0) 203 903 7715 |
James Serjeant |
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MHP Communications (Financial PR) | +44 (0) 203 128 8794 |
Katie Hunt |
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Franchise Brands (FRAN)