Kidderminster-headquartered Franchise Brands has revealed that its trading over the first three months of the year has been ahead of expectations.
The listed company has added that the number of jobs completed by Metro Rod and Metro Plumb was up by 16 per cent year-on-year to record levels.
The trading update to 31 March comes after the business revealed last month that its revenues for the year to 31 December 2017 increased to £24.3m compared to £4.9m 12 months earlier while pre-tax profits also rose to £2.1m from £1.2m.
Executive chairman Stephen Hemsley said: “Group trading in the three months to 31 March 2018 has been marginally ahead of management’s expectations.
“In particular, the number of jobs completed by Metro Rod and Metro Plumb was up by 16 per cent year-on-year to record levels, although the average order size was slightly lower due to the heavy rain and snow resulting in more lower value emergency plumbing and drainage jobs.
“Costs were well-controlled with the headcount at Metro Rod falling by 16 per cent year-on-year, as the benefits of the IT investment in that business start to become apparent.
“The board looks forward to the remainder of the year with confidence.”
Source: Insider Media