Tough day for some!
The stock market is currently displaying little patience for missteps and even mildly disappointing trading updates from small caps are being severely punished. For one company covered here and in our premium note, a failure to communicate isn’t helping its cause. Elsewhere there was more positive news.
Franchise Brands: trading ahead Franchise Brands (AIM: FRAN), an international multi-brand franchise business, confirmed that it has continued to perform robustly, driven by strong contributions by the two largest businesses, Filta in North America and Metro Rod in the UK. Filta used to be separately listed on AIM but was acquired by FRAN earlier in the year. Filta's North American business benefited from strong activity across all key customer sectors, which has partly resulted from the elevated price of cooking oil, as the Filta Fry process can double the useful life of such oil. The strong market price of used…