Franchise Brands' pre-tax profits tripled during the first half of its financial year while the listed company's revenue also jumped by nearly 20%.
The Macclesfield-headquartered business has reported a statutory pre-tax profits of 拢2.6m for the six months to June 30, 2021, up from the 拢900,000 it achieved during the same period in 2020.
The group's revenue also increased from 拢24.2m to 拢28.6m while its adjusted EBITDA went from 拢2.8m to 拢4.2m.
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The current market consensus for Franchise Brands' full-year results is for the group to achieve a revenue of 拢56.7m, a rise from 拢49.3m, and an adjusted EBITDA of 拢7.85m, higher than the 拢6.6m it posted in 2020.
The company currently has a combined network of over 400 franchisees across Metro Rod, Metro Plumb, Willow Pumps, ChipsAway, Ovenclean and Barking Mad.
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The combined trading history of all the group's brands is over 135 years.
Franchise Brands employs more than 260 people across three principal locations in Macclesfield, Kidderminster and Aylesford.
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Executive chairman Stephen Hemsley said: "The first half of 2021 has been a period of strong recovery from the Covid-impacted performance in 2020, despite the lockdown in Q1.
"The strength of our brands, our people and our franchisees have allowed us to weather the storm and emerge fitter and stronger as both a team and as a business. We look forward to the second half of the year and beyond with great optimism.
"We are confident that the full year performance will be ahead of current consensus market expectations."
