Franchise Brands
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Franchise Brands plc (LON:FRAN) has announced a continuation of its share buy-back programme, with up to £200,000 of shares to be purchased before June 30.

The cash generative group said the programme is an offset to the dilutive impact of employee share option awards.

Related: Franchise Brands plc lays the foundations for another 10 years

It is being assisted by Dowgate Capital Stockbrokers which will carry out on-market purchases of shares on the company’s behalf, including during closed periods for the company.

READ: Franchise Brands plc lays the foundations for another 10 years

The company owns four main brands – drains specialist Metro Rod, car body repairer ChipsAway, dog groomer Barking Mad and Ovenclean – and it has just celebrated its tenth anniversary.

Metro Rod, the largest of the franchise operations, completed 88,000 jobs during the interim period to March, said Hemsley, a 15% rise on the same period a year ago.

Related: Franchise Brands PLC (LON:FRAN) Declares Dividend Increase – GBX 0.33 Per Share

In the first half of the current year, MetroRod, which deals with problems with commercial premises, generated MSF income of £3.5mln, or a run-rate of £7mln per year, but the plan is to boost this four-fold.

Source: Proactive Investors

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