Famous Brands’ profit ticks up despite high inflationary environment
The group declared a dividend of 233c apiece, with the total dividend coming to 363c apiece for the year. This marks an 82% increase in dividends paid year-on-year.
Famous Brands says its revenues are now exceeding pre-pandemic levels, after the group focused on improving cash generation from operations and controlling its cost base tightly, despite high inflation, input cost increases and loadshedding.
In the year under review, the Leading Brands portfolio expanded by 85 new restaurants and saw 143 restaurants revamped, and 31 closed. “While the marketplace remains highly competitive as brands fight to retain market share, we continue to experience good brand growth, revamp activity and demand for our brands from potential franchise partners,” Hele notes.
Famous Brands says the home delivery channel gained traction in several countries, with online ordering platforms launched and franchise partners investing in call centres and centralised kitchens.
Courtesy of Engineering News – read full article here.