Franchise Brands plc has this morning issued a trading update for the three months to 30 September 2021 (“Q3”). The Group has continued to perform strongly during Q3, with adjusted EBITDA for the quarter and year-to-date reaching a record level. This strong performance has been driven by the outstanding growth of our Metro Rod franchisees, who have increased system sales for the quarter by 32% year-on-year. The Board is therefore confident of meeting current consensus market expectations for the year to 31 December 2021.
Stephen Hemsley, Executive Chairman, commented:
“I am pleased with our Q3 performance which demonstrates the strength of our organic strategy and look forward to Q4 and the full year result with confidence. The progress we are making with our digital platform is already beginning to transform our existing businesses and will provide a scaleable technology platform to support the accelerated development of businesses we will acquire in the future. We will therefore continue to invest significant resources in this area. We continue to review a number of acquisition opportunities but remain patient and will only move forward where we are confident that an opportunity will provide a good return for our shareholders, in a reasonable timescale, and with an acceptable risk.”
