Franchise Brands has released a positive trading update for the three months to 30 September 2021, the Group’s third quarter. Highlights include excellent growth from the Metro Rod franchisees who have increased system sales by 32% year-on-year (yoy) in the quarter and the recruitment of 52 new franchisees in the B2C division to date. Work on optimising the new integrated technology platform continues, improving the Metro Rod and Metro Plumb customer experience and enhancing the efficiency and p
Companies: Franchise Brands plc
Franchise Brands has released a very encouraging Q3 update which states that it has delivered record Q3 results that firmly underpin FY expectations. This robust performance was driven by Metro Rod, where systems sales grew +32%. As expected, Willow Pumps has seen a more muted recovery in its supply & installation operations due to its reliance on the housebuilding sector. Recruitment in the B2C sector has returned to pre-CV19 levels. Digital transformation at Metro Rod and Metro Plumb continues
Franchise Brands has announced interim results that are well ahead of DCe on every metric and that FY results will be ahead of expectations, leading us to upgrade our FY21 PBT forecast by +9%. All areas of the group rebounded as the UK reopened, with revenues increasing +19% at Metro Rod, +11% at Willow Pumps and +32% in B2C. Further, we believe the group is well positioned to benefit as the UK continues to unlock in H2. The Digital Transformation programme announced at the FY20 results continue
In the half year to June 2021 Franchise Brands posted an increase in revenues of 18% and an increase in adjusted EBITDA of 50% with strong cash conversion of 84%. Revenue and adjusted EBITDA increased across all divisions as COVID-related restrictions were progressively lifted through the period. The easing of restrictions in the hospitality sector and the digital transformation continuing at pace, will further benefit the H2 outcome. The Board is confident regarding the prospects for organic gr
Franchise Brands has updated the market on its headline performance for the six months to June 2021. It is encouraging to learn that system sales growth at Metro Rod in the period has been very strong and accelerating, reaching a record level of £23.8m. for the period and a record £4.3m for the month of June. Willow Pumps, which was impacted more severely by the lockdown, has also responded well to the easing of COVID restrictions with year-on-year invoiced sales increasing by 9% in H1. The B2C
Franchise Brands has released a very encouraging Pre-Close Update that reports trading has been strong across all parts of its business. Metro Rod system sales have returned to robust pre-CV19 levels, with growth of +21% over 1H20 and +17% over 1H19. Growth has accelerated as lockdowns have been eased, with June system sales up +41% over 1H20 and +26% over 1H19. Although Willow Pumps has greater exposure to hospitality, it has now returned to growth, with H1 sales up +9%. The B2C division has pe
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CMO Group PLC, the UK's largest online-only retailer of building materials, announced its intention to seek admission to AIM. The Group currently operates seven specialist websites, Roofingsuperstore.co.uk, Drainagesuperstore.co.uk, Insulationsuperstore.co.uk, Doorsuperstore.co.uk, Tileandfloorsuperstore.co.uk, cmotrade.co.uk and Totaltiles.co.uk. Admission due early July.
Seraphine Group, intends to IPO on the Premium Segment on the Main Market. Seraphine, a
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We take significant encouragement from the Franchise Brands’ AGM statement which reveals that Q1 adjusted EBITDA was ahead 24% year on year (yoy) at a record £2m (Q1 2020: £1.6m). The strong start to the year serves to underpin the organic element of the Board’s financial growth strategy that seeks to achieve a revenue run-rate of £100m and adjusted EBITDA of £15m by the end of 2023. The promising start points to another year of strong earnings growth and cash generation which we expect to be re
Franchise Brands has released a very encouraging AGM update which states that it has made a strong start to the year. In Q1 the group delivered record EBITDA of £2.0m, up +24% on last year with turnover returning to pre-CV19 levels in March despite the hospitality sector having not yet reopened. In addition to positive revenue momentum, Franchise Brands is benefiting from efficiency savings from the new ways of working established during lockdown as the group continues the digital transformation
Franchise Brands’ results for the full year can be characterised as resilience in adversity with adjusted EBITDA, profit before tax, EPS, dividend and net cash all comfortably ahead of forecasts, the latter boosted by a placing in 2020 raising £13.6m net. Faced by COVID restrictions, quick reactions by management resulted in a decline in B2B and B2C EBITDA of just 0.7%, against a fall in fee income of 15% while direct labour income increased by 71% reflecting a full year from Willow Pumps. Havin
Umuthi Healthcare (UHS.L) , the technology led healthcare business focused on the distribution of pharmaceuticals and the provision of medical facilities in remote areas has joined the main market (standard). No funds raised. Umuthi onboarded 2,000 clients during the previous financial year which represents a single digit fraction of the immediately available customers to its MedTech platform and have booked revenues as a result of these sales, ensuring tangible proof of concept. The bespoke p
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Research Tree provides access to ongoing research coverage, media content and regulatory news on Franchise Brands plc.
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Devolver Digital to join AIM, an award-winning digital video games publisher and developer in the indie games space. Recently awarded indie 'Publisher of the Year 2021' by GamesIndustry.biz. Offer TBA. Due early Nov.
Life Science REIT to join AIM raising up to £100m. This will be the first London listed real estate investment trust (REIT) focused on UK life science properties providing investors with exposure
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We believe Keywords has a very strong business model, as it provides solutions throughout the development cycle. Keywords is an infrastructure play, benefitting from gaming industry tailwinds. 2021 is a step-change year. Thereafter we believe KWS EPS will continue to compound at attractive double-digit % rates.Buy
Companies: Keywords Studios plc
Tungsten West (TUN.L) has joined AIM. Tungsten West is the 100% owner and operator of the historical Hemerdon tungsten and tin mine located near Plymouth in southern Devon. Hemerdon represents the world's third largest tungsten mineral resource, with a JORC (2012) compliant Mineral Resource Estimate of approximately 325Mt at 0.12 WO3. Capital raised on Admission: £39m. Anticipated Mkt Cap: £106.2m.
Future Metals NL (ASX:FME, FME.L) (formerly named Red Emperor Resources NL) had joined AIM
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Sareum Holdings PLC have published Final Year Results. We have published research on this which is attached and a snapshot of the research is below.
The specialist drug development company delivering targeted small molecule therapeutics to improve the treatment of autoimmune diseases and cancer, announced its results for the year ended 30 June 2021. It has been a period of significant progress for its selective TYK2/JAK1 Inhibitors, which have reported further strong pre-clinical results, attra
Companies: Sareum Holdings plc
Arrow Exploration Corp. (AIM:AXL; TSXV:AXL), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, has joined AIM, alongside a fundraise of approximately £8.8m.
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ATOM headquartered in Leeds, focussed on the large-scale production of green hydrogen and ammonia intends to join AIM towards the end of the year. ATOME intends to be spun-out from AIM-listed President Energy Plc, an oil and gas com
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Today’s trading update from Driver Group is optimistic, highlighting a material improvement in activity levels during Q4 and a positive start to Q1 ’22. The rise in demand for the highermargin expert services, combined with a decline in the impact of the pandemic on decision making, a restructuring of the Middle East / APAC regions, and new offices, have resulted in renewed positive momentum. We have introduced estimates for FY21 and FY22, with the latter reflecting these strong growth drivers.
Companies: Driver Group Plc
Water Intelligence has released a very strong Q3 update and at the 9m stage has now already achieved our FY21 Normalised PBT forecast. Group revenues advanced +43% for the 9m, led by US Corporate-Owned Locations (+79%) and International Corporate-Owned Locations (+47%), supported by Franchise Royalty Income and Franchise-Related Sales, which both grew +4%. Normalised PBT for 9m was $6.5m, equal to our FY21 estimate. The group was very active in Q3, with a Midwest Home Builder contract win develo
Companies: Water Intelligence plc
RELX shares reached a new all-time high this morning following the publication of the group’s 9-month trading update. Investors welcomed the – long-awaited – bounce back in Exhibitions as well as the improved FY21e guidance.
Companies: RELX PLC
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Driver Group’s year end update confirms it expects to report adj. PBT in line with expectations and net cash a touch below at £6.5m (SCM previous forecast: £7.3m). It has seen a material improvement in activity levels during Q4, giving management confidence in the current year outlook. Our FY22 forecasts are therefore unchanged, continuing to show a material improvement in earnings. We see the current valuation (11.1x Sep. ’22 P/E and 5.7x EV/EBITDA) as undemanding against an improving outlook a
WATR continues to exceed expectations, as reflected in this morning's Q3-2021 announcement, showing 9-month revenue at $39.7m (up 43% YoY), EBITDA at $8.5m (up 48%) and adj. PBT at $6.5m (up 42%) – surpassing full year 2020 results on all counts. Consistently impressive revenue and profit growth rates over a number of years evidence the strength of the operating model and the value of the company's national presence as well as growing demand for their services arising from well-publicised and hi
Rentokil’s Q3 FY2021 trading update came in behind our and consensus estimates. The positive impact of organic revenue growth in the core businesses and bolt-on acquisitions was partially mitigated by the unwinding of disinfection revenue. While management maintained FY2021 guidance for the core businesses to generate mid-single-digit organic revenue growth, the share price dropped c.2% today on the back of an underwhelming Q3 update. We will tweak our estimates and target price, and are likely
Companies: Rentokil Initial plc
PCI Pal has announced three new contract awards and confirmed that trading remains strong, with revenues ahead year-to-date. Seven new customers were signed in November alone, with four of these through channel partners. Recurring revenues continue to grow rapidly (50% yoy), there is increasing demand for the Amazon Web Services platform, a significant pipeline of contracted projects to deliver and accelerating sales enquiries. We remain highly excited by the growth potential of this business.
Companies: PCI-PAL PLC
Whether we know it or not, advanced materials are a core component in the everyday life of the everyday person. They are the key material in items we often disregard, such as printer inks and lotions, to objects which defy the laws of gravity like the Airbus A380 and London’s Shard. Furthermore, these materials are not only essential to many objects and structures, but, due to their superior qualities, are the key to the advancement of many industries. One such example is the use of carbon fibre
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