We have started to look for more bolt-on acquisitions with the integration of drain maintenance business MetroRod now largely finished.
Stephen Hemsley, executive chairman
How it's doing
Bringing the two brands together, the long-term goal is to provide a “water in, waste out" range of plumbing-related services to commercial customers in the UK.
A strong showing from Metro Rod helped revenues rise strongly over 2019.
In a trading update in January the company noted: "The year will show significant growth over the previous year and at least match market expectations for £40.6mln of sales and underlying profits of £5.2mln".
A B2B business, Metro Rod's sales rose 14% (compared with 10% growth a year earlier) with the full benefit of the addition of Willow Pumps and the broadened range on offer still to come.
Trading in 2020 had started well, the AIM-listed group said, with healthy franchisee recruitment in the B2C brands - ChipsAway, Ovenclean and Barking Mad.
A net 17 new franchisees were added over 2019 to these businesses to take the number to 404.
What the boss says: Stephen Hemsley, executive chairman
"The group has delivered a strong performance in 2019, which, in combination with the recent acquisition of Willow Pumps, leaves us confident about the prospects for Franchise Brands as we enter 2020."
- Chipsaway is being prepared for the advent of electric cars.
- “Everything is in the bumper, so a bang or scrape there means everything has to be re-calibrated.”
- At MetroRod, Franchise Brands has a five-year plan to boost franchisee fee income four-fold by 2023
- Company has spent heavily overhauling IT infrastructure and central support function
- More acquisitions likely to utilise this franchise network infrastructure