FamousBrands saw its full-year profits jump nearly 40% as consumers returned to its restaurants to dine out following the Covid-19 pandemic years. Moneyweb NtandoThukwana
Quick service and casual dining restaurant group Famous Brands saw its full-year profits jump nearly 40% as consumers returned to its restaurants to dine out following the Covid-19 pandemic years. The group, which owns the Wimpy, Steers, and Debonairs fast food chains, reported its financial results on Monday, which showed headline earnings per share soared 37% to 488 cents for the year to the end of February. The group also increased its full-year dividend by 82% to 363 cents per share.
” The company further said its post-pandemic recovery began to wane as its financial year progressed and the country’s economic conditions deteriorated. Despite these factors, revenue was up 15% to R7.4 billion – higher than before the pandemic – compared to R6.5 billion in 2022. Operating profit increased by 37% to R861 million from R630 million.
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