Metro Rod has been the star performer from parent group Franchise Brands and is driving the group on to further success.
Metro Rod has helped parent group Franchise Brands achieve a strong performance in the first half of 2019. The drainage franchise’s innovative ‘Vision 2023’ strategy is beginning to come to fruition and has helped the business to grow in a number of areas.
Compared to the first half of 2018, Metro Rod’s system sales growth has increased by 15 percent, local sales have increased by 19 percent and more than 83 percent of its franchisee network are in growth. Incredibly 39 percent of its franchisees are growing by more than 20 percent year-on-year, showing that its business model has plenty of potential for success.
Speaking about the results, Executive Chairman Stephen Hemsley commented:
“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.”
He added that the overall fortunes of all Franchise Brands companies are looking positive and that the group is confident it will achieve positive results in the coming months.
“The outlook for the Group 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.”
Overall, the group’s revenue increased by an impressive 19 percent, taking it to £20.1 million from £16.8 million this time last year.
Sophie Cole, Point Franchise ©
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