Franchise Brands PLC Notice of Results and Trading Update (1981C)
January 18 2018 - 2:00AM
UK Regulatory
TIDMFRAN
RNS Number : 1981C
Franchise Brands PLC
18 January 2018
The information contained within this Announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon
publication of this Announcement, this information is now
considered to be in the public domain.
18 January 2018
Franchise Brands plc
("Franchise Brands" or the "Company")
Notice of Results and Trading Update
The board of Franchise Brands (AIM: FRAN) provides notice that
it expects to announce the Company's annual results for the
financial year ended 31 December 2017 on Thursday 22 March 2018 and
the board looks forward to updating shareholders with further
details at that time.
The board is pleased to advise that it expects these results to
be ahead of current market expectations. Our principal existing
brands have delivered strong growth and we are pleased with the
progress that has been made with putting in place the strategic and
operational foundations that are expected to help unlock the
substantial potential we see for Metro Rod.
The board is also pleased to report that trading in the initial
weeks of 2018 has been very positive, with order intake at Metro
Rod significantly higher than in the same period in 2017.
The board notes the liquidation of Carillion, whose various
facilities management clients accounted for approximately 3% of
Metro Rod's system sales last year. We have fully provided for all
outstanding amounts, which totalled GBP316,000, as an operating
exceptional item in the results to 31 December 2017. Despite this,
the results for the year are expected to be ahead of market
expectations at both an adjusted and a statutory level. The board
believes that Metro Rod is well placed to secure work from the
underlying clients of Carillion and has already secured approved
supplier status with a number of them.
Stephen Hemsley, Executive Chairman commented:
"Franchise Brands has entered 2018 with a great deal of
optimism. The board is confident we will start to see the early
benefits of the investment we are making in Metro Rod's IT systems,
marketing and sales. In addition, ChipsAway, Ovenclean and Barking
Mad have all started 2018 with good positive momentum. We look
forward to a successful year ahead."
Enquiries:
+44 (0) 800
Franchise Brands plc 012 6462
Stephen Hemsley, Executive Chairman
Chris Dent, Chief Financial
Officer
Julia Choudhury, Corporate Development
Director
Allenby Capital Limited (Nominated +44 (0) 20
Adviser and Joint Broker) 3328 5656
Jeremy Porter/ James Thomas/
Liz Kirchner
Dowgate Capital Stockbrokers +44 (0) 20
(Joint Broker) 3903 7715
James Serjeant
MHP Communications (Financial +44 (0) 20
PR) 3128 8794
Katie Hunt/Ivana Petkova
This information is provided by RNS
The company news service from the London Stock Exchange
END
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