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Franchise Brands pre-tax profits up 18.3%

Thursday, 15th September 2016
Franchise Brands' total revenue rose by 10% to £2,488,000 in the six months to the end of June.

Gross profit margin increased by 1.2% to 66.8% and profit before tax rose by 18.3% to £724,000.

Earnings per share rose to 4.79p (H1 2015: 4.05p), equivalent to 1.22p (H1 2015: 1.03p) on the basis of the number of shares in issue following admission.

Executive chairman Stephen Hemsley said: "I am pleased to be reporting our maiden interim results following the Group's successful IPO in which we raised £2.9m net and were well supported by institutional and retail shareholders, the management team, employees and franchisees.

"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.

"The Company's two main brands, Chips Away and Ovenclean, continue to trade well, giving us confidence in the full year outcome.

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

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