The parent group behind the Metro Rod franchise has reported a brilliant start to the year and hopes to capitalise on its success.
Franchise Brands, the parent group behind many successful franchises including Metro Rod, has said that trading for the first weeks of 2019 has been very positive. Although the company’s full results for the year ending in December 2018 will be announced in March, the fantastic start to 2019 is bound to be encouraging for franchisees of the force behind the drain cleaning franchise.
A statement issued by Franchise Brands to the London Stock Exchange said: "ChipsAway, Ovenclean and Barking Mad continue to be highly cash generative, and, whilst franchise recruitment has slowed, sound underlying trading and investment by existing franchisees has driven an increase in Management Service Fee income. The board is also pleased to report that trading in the initial weeks of 2019 has been positive, with job intake at Metro Rod up on the same period from 2018 and healthy levels of franchise enquiries at ChipsAway, Ovenclean and Barking Mad."
Executive Chairman, Stephen Hemsely, expressed his delight at the initial positive results for this calendar year, saying: "We are very encouraged by the prospects for Franchise Brands as we enter 2019. Our Vision 2023 growth strategy for Metro Rod has met with real engagement from a re-invigorated franchise community, with half of the network recording double-digit sales growth in 2018. Our balance sheet and strong cash-flows from our brands support our buy-and-build strategy. We look forward to an exciting year ahead."
Metro Rod has been the leading provider of drain clearance and maintenance for more than 35 years and has more than 40 franchisees spread far and wide across the UK. Recently, Metro Plumb was born and has allowed the franchise to offer a specialist plumbing opportunity to prospective franchisees across the UK, in addition to its tried and tested drain clearance franchise model.
The Editorial Team, Point Franchise ©
0 Comments