Franchise Brands has announced its higher first-half adjusted profit and revenue, along with its forecast for a full-year performance that meets expectations. The multi-brand franchise business reported an adjusted pretax profit of £8.6 million for the first six months of the year, a significant increase from the previous year, primarily due to the acquisition of Pirtek Europe. However, on a statutory basis, the company experienced a swing from a profit of £3.6 million to a pretax loss of £1.2 million, as a result of one-off acquisition charges.
The adjusted earnings before interest, taxes, depreciation, and amortization rose by an impressive 67% to £12.1 million, while revenue saw a 57% increase to £69.8 million. In light of these positive results, the company declared an interim dividend of 1.0 pence per share, which represents an increase from the previous year’s dividend of 0.9 pence per share. Additionally, Franchise Brands expects to deliver a full-year performance that aligns with the projected £29.0 million in adjusted Ebitda.
To support its growth and ongoing success, the company has appointed Mark Fryer as its new Chief Financial Officer, starting from August 2nd. With 25 years of experience in global manufacturing and business-service companies, Fryer brings valuable expertise to enhance Franchise Brands’ financial management.
As a testament to its strong performance, Franchise Brands’ shares were up by 1.35% at 150.0 pence as of 0758 GMT.