Franchise Brands, a multi-brand franchise business, remains confident in meeting market expectations for full-year adjusted earnings. The company expects its 2023 adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to be in line with current market expectations of £29.3 million ($35.6 million). This comes after reporting an adjusted EBITDA of £15.3 million last year.
Despite challenging macroeconomic conditions, Franchise Brands has been able to perform well and expand thanks to the resilient nature of its services. The company’s business-to-business units, which primarily provide reactive services, have achieved record levels of performance. Although there has been some softening in demand over the summer, the company remains optimistic about its performance.
Executive Chairman Stephen Hemsley highlighted the significant potential for growth across their principal franchise brands. With a small share of large markets, Franchise Brands plans to broaden the range of services offered, increase geographic penetration, and cross-sell to a larger customer base.
Overall, Franchise Brands remains positive about its future prospects and is focused on capitalizing on growth opportunities.