12th Jan 2021 13:29
Franchise Brands PLC - Macclesfield-based multi-brand franchise business - Says 2020 earnings to be ahead of market expectations. Market consensus forecasts revenue to rise 10% to GBP48.6 million; adjusted earnings before interest, tax, depreciation and amortization of GBP6.1 million, up 17%; and adjusted earnings per share of 3.87 pence, down 11%. "This resilient performance has been driven by strong trading in the first quarter, early and decisive action taken at the start of the Spring lockdown to reduce costs, and a strong recovery in the second half of the year across most of the businesses. Although we start 2021 with further restrictions that will impact our business, we are now well practised at how to mitigate the impact by protecting our people, controlling costs and continuing to serve our customers where it is safe to do so," Franchise adds.
Current stock price: 101.98 pence
Year-to-date change: up 3.5%
By Eric Cunha; [email protected]
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