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Repairs and maintenance franchiser Franchise Brands booked a 27% rise in first-half profit underpinned by higher fee and direct labour income.

Pre-tax profit for the six months through June rose to £1.8m, as revenue rose 19% to £20.1m.

The company declared an interim dividend of 0.30p per share, up 43% on-year.

‘Franchise Brands has delivered a strong performance in the first half of 2019 driven primarily by Metro Rod’s accelerating rate of growth,’ executive chairman Stephen Hemsley said.

Related: The Ultimate Guide to Home Improvement Franchises in the UK

‘All of our profitable, cash generative B2C brands have seen a substantial improvement in franchise recruitment compared to the challenging second half of last year.’

‘ChipsAway is increasingly well positioned for the rapid changes underway in the automotive sector in particular in relation to ADAS and the growth of electric and hybrid vehicles.’

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‘The outlook for the group therefore remains very positive, with the combination of accelerating organic growth and the potential for prudently financed, earnings-enhancing complementary acquisition opportunities giving us the confidence of delivering further significant growth in earnings and dividends in the current year and beyond.’

At 2:41pm: (LON:FRAN) Franchise Brands Plc share price was +6p at 90p

Source: Shares Magazine

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