Franchise owner and operator, Allied Brands Limited (ABQ) rose 12% to 50.5 cents after it said its newly acquired Cookie Man brand is to be launched in at least three new countries.
The company is assessing potential franchisees in a number of countries, after the brand's excellent performance in India.
"The impressive performance by Cookie Man in India has fuelled international interest in becoming a master franchisee for the brand in other countries," Allied Brands director Peter Elligett said.
Elligett said Allied Brands had intended to pursue international expansion opportunities for Cookie Man in 2008-2009 financial year but strong inquiries had seen those plans brought forward.
Cookie Man was acquired by Allied Brands earlier this year and has 49 outlets in Australia and one in Singapore.
Allied Brands is the Australian operation of Baskin Robbins, a major international ice cream franchising system.
After floating on the Australian stock exchange in late 2004 at an offer price of 35 cents, the ice cream group climbed over the 55 cent mark, only to fall back to about 10 cents a share in July 2006.
The company reported a loss of almost $3 million for 2006 financial year, but appeased its shareholders in FY2007 with a record profit of $1.98 million.
Reflecting the positive results, the share price promptly recovered.
