26th Jul 2018 11:49
LONDON (Alliance News) - Franchise Brands PLC said Thursday it swung to a profit in the first half of its financial year as it increased revenue by 89%.
For the six months to June 30, the multibrand franchisor posted pretax profit of GBP1.4 million compared to a GBP203,000 loss recorded in the same period a year ago.
Revenue increased 89% to GBP16.8 million from GBP8.9 million year-on-year.
The company upped its interim dividend by 24% to 0.21 pence per share from 0.17p a year ago.
The company said it is confident in its outlook for the rest of the year and it "remains very positive".
Franchise Brands shares were trading up 3.1% at 84.50p each.
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