The UK’s leader in drain cleaning and maintenance, Metro Rod, is taking the industry by storm. Acquired by Kidderminster-headquartered Franchise Brands in April for £28.5m, Metro Rod’s half-year figures boasts a rise in revenue to £8.64m compared to £2.4m during the same period in 2016. There has also been a significant pre-tax profit by 38 per cent which broke the £1m mark, up from £724,000.
In addition to Metro Rod, the Kidderminster-headquartered franchisor operates four other brands, such as, Barking Mad and Chipsway and it is highly confident of its future. “Our principal existing brands have delivered strong growth, and in a relatively short space of time we have created a high-quality portfolio of businesses with significant critical mass in the franchising sector.” says Executive Chairman, Stephen Hemsley. “We are focused on maximising the earnings potential from all our brands, particularly with the recent acquisition of Metro Rod, where the medium-term upside potential is substantially better than our initial expectations, with the benefit of additional near term investment.”
In a six –month period, the number of franchises the company operates has increased to 443, up from 320 from the first half of 2016 only. The £20m-plus turnover business which has contributed 11 week’s trading to Franchise Brand’s figures is a direct result of the acquisition of Metro Rod in April.
The Franchise Brand’s two main shareholders and co-founders, Saracens chairman Nigel Wray and Stephen Helmsley previously worked together in growing the success of pizza franchise business Domino’s UK.
If you would like to find out more about becoming a Metro Rod franchisee, follow the link above.
Lily Sweeney, Point Franchise ©
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