Franchise Brands on track to meet earnings targets following smooth Pirtek integration

Franchise Brands PLC (AIM:FRAN) executive chairman Stephen Hemsley told Proactive’s Stephen Gunnion that, despite seeing some softer demand during the summer, the B2B businesses of the company are trading at record levels.

Hemsley expressed satisfaction with Pirtek’s integration into the Franchise Brands business, particularly with IT integration. A forthcoming “growth summit” in Amsterdam will provide a platform for further idea exchange.

Hemsley said he remains confident that the company will deliver adjusted EBITDA in line with market expectations.

After reducing group net debt from £79.1 million in June to £76 million at the end of September, Hemsley also highlighted that management of working capital and debt, particularly after the Pirtek acquisition, remains a priority.