Franchise Brands (LON:FRAN) posted a 29% increase in adjusted underlying earnings (EBITDA) for 2019, driven by accelerating Metro Rod system sales. Charismatic CEO Stephen Hemsley is delighted with the results and came into Proactive London to tell investors more.
The multi-brands franchise business increased its adjusted EBITDA to £5.2mln from £4.0mln on the back of a 24%, while revenue rose to £44.0mln from £35.5mln the previous year. Profit before tax climbed to £3.28mln from £2.86mln the year before.
Management said the performance of acquisition Willow Pumps in the first three months of ownership had exceeded expectations.
Meanwhile, the Metro Rod drain care business saw system sales growth increase by 14% in 2019 from 8% in 2018.
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