Franchise Brands confident for the future

The executive chairman of Franchise Brands has said he is “confident” for the future after announcing its maiden interim results.

The Kidderminster-based group, which has a network of more than 320 franchises in 12 countries, reported revenues of £2.5million for the six months to June 2016, up from £2.25million a year earlier.

Started in 2008 by the former chief executive of Domino’s Pizza, Stephen Hemsley, Franchise Brands’ two main brands are car bodywork repair business ChipsAway and domestic oven cleaning service Ovenclean, who are both continuing to trade well.

The company has also said that Brexit has had no discernible effect on franchisee recruitment or trading.      

Stephen commented: "I am pleased to be reporting our maiden interim results following the group's successful initial public offering (IPO). 

“A key objective set out at the time of the IPO was to expand the group through targeted acquisitions of high-quality franchise businesses and we are actively reviewing a number of opportunities, leaving us hopeful that we will be able to announce our first transaction shortly.

“With our highly experienced management team and board, we have a firm foundation for continuing to build on our success to date".