Franchise Brands declares maiden interim divi

09:33 14/09/2017 - Franchise Brands' first half revenues rose three-fold to £8,639,000 and adjusted EBITDA increased by 66% to £1,256,000.

Organic EBITDA increased by 13% to £1,161,000 in the six months to the end of June and adjusted profit before tax and exceptional items grew by 38% to £1,001,000 (H1 2016: £724,000).

The group declared a maiden interim dividend of 0.17p per share, covered 7.7 times by adjusted earnings per share.

Executive chairman Stephen Hemsley said: "Our principal existing brands have delivered strong growth, and in a relatively short space of time we have created a high quality portfolio of businesses with significant critical mass in the franchising sector.

"We are focused on maximising the earnings potential from all our brands, particularly with the recent acquisition of Metro Rod, where the medium-term upside potential is substantially better than our initial expectations, with the benefit of additional near term investment.

"I am hugely confident that the Group will develop into a highly profitable and cash generative business enabling a progressive dividend policy."

At 9:33am: (LON:FRAN) Franchise Brands Plc share price was -4p at 66p

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