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Franchise Brands PLC has eye on expansion after £14mln fundraise

Stephen Hemsley, executive chairman of Franchise Brands PLC (LON:FRAN) is confident the B2B business will come out strongly from the coronavirus lockdown.

“We can trade through the crisis in profit,” he told Proactive.

“And once we come out the other side, the drain maintenance businesses [B2B] will recover very quickly as commercial premises being re-occupied will have issues to be resolved.”

The consumer-facing businesses will be slower to bounce back, but here, as in B2B, Franchise Brands will use the proceeds of its recent £14mln fundraise to find businesses to acquire and expand.

“The additional funds will make opportunities more available and more affordable,” Hemsley said

Quick facts: Franchise Brands PLC

Price: 107.5 GBX

AIM:FRAN
Market: AIM
Market Cap: £102.9 m
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Franchise Brands PLC boss says revenues rose by 21% in interim results

Franchise Brands PLC (LON:FRAN) chairman Stephen Hemsley tells Proactive revenues rose by 21% in the half-year to end-June, 2020, and all its businesses are now up and running again as coronavirus pandemic restrictions ease. Hemsley says turnover was boosted by the acquisition of Willow...

on 30/7/20

2 min read