Another year of strong growth for Franchise Brands
Franchise Brands plc, a multi-brand franchisor, this morning provides a trading update for the financial year ended 31 December 2022, reporting that the Board expects the Group's revenue, adjusted EBITDA, and adjusted EPS for the year ended 31 December 2022 to be slightly ahead of recently-increased current consensus market expectations.
Trading in the second half of year remained strong in the B2B division (which includes Metro Rod, Willow Pumps, and Filta UK) and Filta North America, our two largest businesses.
Stephen Hemsley, Executive Chairman of Franchise Brands, commented:
“I am particularly pleased with our performance in 2022 which has been another year of strong growth for the Group. The Filta businesses have been integrated faster than expected and have made an excellent contribution in the year, with many more opportunities identified for development in the future. It is a credit to the team at Metro Rod and Metro Plumb that they have now achieved £60m in system sales in 2022, up from £50m in 2021, together with significant growth in profitability.”
“Following the successful integration of Filta, our B2B businesses offer a significant opportunity to capture an increasing share of their large, fragmented markets where scale and our ability to serve customers through our one-stop range of services is becoming more of a competitive advantage. In the B2B markets we are also able to leverage our core central services, in particular technology, increase our international footprint and selectively acquire businesses that extend and complement our existing portfolio.”
“We look forward to 2023 and beyond with considerable confidence".
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