FRAN - Franchise Brands CEO reports on solid H1 which included the acquisition of Pirtek Europe
(NewsDirect)
Franchise Brands PLC (AIM:FRAN) executivechairman Stephen Hemsley speaks to Thomas Warner from Proactive afterpublishing the international, multi-brand franchisor's interimresults for the six months to 30 June 2023.
Hemsley gives an overview of the rationalefor the acquisition of hydraulic hose specialists Pirtek Europe, whichwas completed in April and which doubled the size of the Group as wellas expanding its operations into ten countries. He emphasises thatthis acquisition aligns perfectly with Franchise Brand's objectiveof expanding profits and franchise brands in North America, Europe,and the UK, while also diversifying the industries itserves.
When asked about how he feels the business performed inthe first half of the year, he describes it as "pretty solid"before moving on to talk about the current strategic focus of thebusiness which is on reducing debt and integrating Pirtek. Hemsleyalso announced the recruitment of new CFO Mark Fryer and concludes bysaying that he expects full-year profits to be "at least inline" with the existing forecast of £29mln.
ContactDetails
Proactive UK Ltd
+44 20 7989 0813
Copyright (c) 2023 TheNewswire - All rights reserved.