Franchise Brands PLC (LON:FRAN) said its drainage solutions division Metro Rod has posted record sales for the six months to 30 June.
System sales at the B2B division increased by 21% compared with 2020 and 17% compared with 2019 to £23.8mln, with June in particular surging £4.3mln, up 41% from last year and 26% from 2019.
The wider group has benefited from the easing of lockdown restrictions across the UK.
Willow Pumps, which was acquired in October 2019, has greater exposure to hospitality and was more impacted by lockdown, but invoiced sales were up 9% compared with 2020.
The franchise business said Willow Pumps continues to facilitate the growth of pump-related work within Metro Rod, where pumps system sales have jumped 159% to £700,000.
The B2C division has also performed strongly, and 40 new franchisees have been recruited taking the number of B2C franchisees to 393, the AIM-listed company said.
It added that it should deliver a full-year performance at least in line with market expectations.
Related: Metro Rod Franchise
“I have been pleased by the speed at which the demand for our services has grown as the lockdown restrictions have been lifted,” said executive chairman Stephen Hemsley.
“Throughout the pandemic I have been particularly encouraged by the resilience of our franchisees. Their entrepreneurial spirit and continued commitment to serve our customers gives me huge confidence in the future of Franchise Brands.”
By Giulia Bottaro
Source: Proactive Investors