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Franchise Brands 'confident' of meeting market expectations amid ongoing recovery
StockMarketWire.com
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Franchise Brands, a multi-brand franchise business, said it was 'confident' of meeting market expectations following a strong recovery in trading seen the third quarter from the previous quarter's lockdown-impacted performance.
The company said it was 'confident' of meeting current consensus market expectations for revenue and adjusted EBITDA of £48.6m and £6.1m respectively.
A strong recovery was seen in Metro Rod, which is part of its B2B division, with September system sales up 9% on comparative month in prior year.
System sales for the month at Metro Rod and metro Plumb were 9% higher in September than in the comparative month in the prior year. As a result, system sales in Q3 were down only 6% against the same quarter in the prior year.
'At the height of the lockdown in April and May, system sales at Metro Rod and Metro Plumb were down by nearly 30% against the comparative period in 2019,' the company said.
At 9:01am: (LON:FRAN) Franchise Brands Plc share price was +4.5p at 96.5p
Story provided by StockMarketWire.com
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