Local Franchise Company Triples Earnings

Just prior to the New Year Brampton based Franchise Bancorp Inc. announced they had tripled earnings for the year ending August 31st driven by the Global Pet Food division's addition of nineteen new stores, growing the banner to over 100 stores.

A multi-concept company Franchise Bancorp now has 154 stores either owned or franchised. Originally established in 1968 the company’s Living Lighting division added two new stores and closed one last year. The Liv Canada Gift Group consisting of The Panhandler, Rafters and Rafters Home Store banners, added two stores and closed seven stores during the same timeframe.

Franchise Bancorp's consolidated network same store sales were up 9.7% over the same period last year. Overall network sales increased from $77,800,000 to $89,000,000, an increase of 14.4%.

"With 106 Global stores open to date, we are on target to reach 200 units by 2011” said Franchise Bancorp Inc. Chairman, E.K. Loyst. “The recession may cause a little slow down, but people will not stop feeding their pets and their pets love Global."

For more information about Fanchise Bancorp Inc., which is located on Walker Drive in Brampton, visit their website at:

www.franchisebancorp.com.