Famous Brands reports 10% growth in half-year earnings

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GUEST – Darren Hele, Chief Executive Officer at Famous Brands.

Leading food services franchisor Famous Brands released its interim results for the six months ended 31 August 2024. Famous Brands and its subsidiaries and associates (“Group”) increased its interim dividend by 9% to 150 cents per share.

Total revenue for the review period increased by 2% to R4 017 million (2023: R3 940 million), representing a marginal increase in tight consumer spending. Operating profit remained flat at R371 million against the prior period. Famous Brands' headline earnings per share performed relatively well at 218 cents per share (2023: 199 cents), largely due to prudence on the cost base even though operating profit margins were impacted by lower volumes and overhead cost pressures.

The Board has declared an interim dividend of 150 cents per share (2023: 138 cents), reflecting the Group’s stable financial position, performance, and cash flows, consistent with prudent capital management. Despite operating in a challenging environment, with mixed business sentiments driven by global geopolitical tensions, the Group maintains a cautiously optimistic outlook. The dividend will be paid from profits for the review period, amounting to a total of R150 million.
23 Oct 2024 2PM English South Africa Business News · Investing

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