Since Metro Rod acquisition, multi-brand franchiser Franchise Brands PLC profits for 2017 have hit the roof.
Ever since Franchise Brands PLC took over Metro Rod, its revenue has up surged fivefold with profits for 2017 hitting GBP784,000. In a recent report Franchise Brands reported an upswing from a pre-tax loss in 2017 of GBP65,000 to a profit of GBP784,000 the year.
The company reported a 72% hike in pretax profit to GBP2.1 million from GBP1.2 million. The year’s revenue rose significantly, peaking GBP24.3 million from the GBP4.9 million recorded in 2016. Franchise Brands acquired Metro Rod, the award-winning drain services franchise group, in 2016 and has kicked off 2018 with a bang. Executive chairman for Franchise Brands, Stephen Hemsley said: "2017 has been a year of considerable progress in the development of Franchise Brands, with strong growth from the original brands, and the acquisition of Metro Rod has propelled the company into becoming one of the largest franchise groups in the country."
"Metro Rod has a market-leading national offering in the commercial drainage market which has never been fully exploited and its upside potential is substantially greater than we originally anticipated."
Hemsley outlook for the future is a bright one: "The implementation of the new strategy we have formulated is well underway, and I am confident that the additional investment we are making in the business, combined with the quality and experience of the management team we now have in place, will allow us to unlock that potential over the next two years."
Debra-Derieux Matos, Point Franchise ©
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