Famous Brands experiences mixed impacts in markets in H1
JSE-listed Famous Brands expects its results for the six months ended August 31 to show a marked recovery on the comparative period in 2020, despite continued Covid-19 impacts on its trading markets.
The company represents quick-service restaurant (QSR) and signature food brands in South Africa, the rest of Africa and the Middle East (AME) and the UK.
Some of the brands include Steers, Fishaways, Wimpy and Debonairs, while the signature brands include Mythos and Lupa Osteria.
Famous Brands has warned that the civil unrest experienced in July in South Africa, coupled with the third Covid-19 wave of infections in the country at the time of review, will impact on the financial performance of this market.
The company says 99 of its stores were closed amid the civil unrest, with the majority of closures in KwaZulu-Natal, but its business continuity plans have minimised the operational impact of damages.
In South Africa, Famous Brands’ system-wide sales increased by about 76% year-on-year, while like-for-like sales increased by about 72%, in the leading brands segment.
The signature brands segment recorded system-wide sales growth of about 36% year-on-year, while like-for-like sales increased by about 149%.
System-wide sales increased by about 15% year-on-year in the AME region.
The company has reported that its supply chain business, which encompasses manufacturing and logistics, reported increased revenue of about 65% for manufacturing, and 74% for logistics, compared with the six months ended August 31, 2020.
Famous Brands will issue an updated trading statement soon, while its results will be published on or about October 27.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation