Franchise Brands touts improved first quarter amid difficult markets

Franchise Brands PLC on Wednesday in a statement prior to its annual general meeting said resilient demand has boosted group performance despite ‘challenging’ market environments.

The Manchester, England-based owner of the ChipsAway, Willow Pumps and Metro Rod brands said its first quarter performance has ‘generally improved’ since the start of the year, with a number of businesses delivering strong performances in March in particular.

At Pirtek, its franchise businesses delivered on-year System sales growth in the first quarter, with early signs of additional larger project work to come through later in the year. Filta North America also experienced ‘strong’ on-year System sales growth, supported by a strengthened used cooking oil price in the three-month period.

Franchise Brands noted that market conditions in its Water & Waste Services unit were particularly challenging, while its autonomous business-to-consumer division, which includes the ChipsAway, Ovenclean and Barking Mad consumer brands, continues to trade ‘respectably’ despite a ‘difficult franchise recruitment environment’.

‘While challenging macroeconomic conditions persist in many of our key markets, including more recently the uncertainty created by the recent US trade/tariff announcements, we are controlling the controllables by driving cost efficiencies and maximising group-wide sales opportunities. We also continue to reduce our sector dependency by diversifying into growth markets,’ said Executive Chair Stephen Hemsley.

Shares in Franchise Brands were down 1.0% at 144.50 pence each in London on Wednesday afternoon. The stock is down 27% over the past year.

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