MARKET-LEADING FRANCHISE BUSINESSES At Franchise Brands we are FOCUSED ON developing established franchise businesses into market leaders. We give our franchisees the support and tools they need to grow their business. Front cover images: Top: Jamie Harrison, engineer at Metro Rod Mid Lancs Bottom: Sandip Kalkat, ChipsAway franchisee for Walsall Photographer: Ben Wood - Island Images Strategic Report Highlights 01 At a glance 02 The franchising industry 04 Chairman’s statement 06 Our strategy and business model 10 Strategy in action 12 Meet the Metro Rod Managing Director 16 Brand reviews 18 Financial review 24 2018 Group achievements 27 Key performance indicators 28 Principal risks and uncertainties 30 Governance Board of Directors 32 Senior management 34 Chairman’s introduction to governance 35 Corporate governance 36 Directors’ remuneration report 39 Directors’ report 41 Directors’ responsibilities statement 43 Financial Statements Independent auditor’s report 44 Consolidated statement of comprehensive income 49 Consolidated statement of financial position 50 Company statement of financial position 51 Consolidated statement of cash flows 52 Company statement of cash flows 53 Consolidated and Company statement of changes in equity 54 Notes forming part of the financial statements 55 Company information 71 www.franchisebrands.co.uk