Metro Rod’s parent company, Franchise Brands, celebrates a rise in revenue and profits over the first six months of 2018.
Parent company of drain clearance specialist Metro Rod, Franchise Brands, has seen soaring revenues in the first half of 2018. The company revealed that its revenue had grown a massive 88% over the first six months of the year, indicating that its franchises including Metro Rod were enjoying plenty of success.
Franchise Brands revealed that its profits had also risen too, leaping from a loss of £200,000 to a fantastic £1.4m by the end of June 2018. It has plans to re-invest plenty of capital and time into elevating its newest brand, Metro Rod, to even higher levels of success than the veteran drainage franchise has already enjoyed. The figures show how successful the company has been, as revenue jumped to an incredible £16.8m (for the six months to 30 June 2018) from just £8.9m during the same period last year.
Executive chairman Stephen Hemsley said: "The first half of 2018 has been a period of pleasing progress for Franchise Brands with the business as a whole performing as expected. Metro Rod is capable of significant growth and I am very encouraged that we have started to see the benefits coming through of the new strategy.”
He added that he looked forward to putting the increased profits back into further improving Metro Rod’s successful business model.
"The investment we are making will help unlock Metro Rod's potential; new technology is already allowing us to automate processes, reduce costs and provide a superior customer experience. The outlook for the group remains very positive and I look forward to the remainder of 2018 with confidence."
Since being founded in 1983, Metro Rod has been an industry leader in the repair and care of drainage systems. With over 40 franchisees across the UK providing a 24/7/365 emergency service to clear blocked or repair damaged drains as quickly as possible, Metro Rod can sort out even the most nightmarish of jobs quickly.
Sophie Cole, Point Franchise ©
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