Famous Brands sees earnings boost of up to 74%
Famous Brands said on Tuesday that it expected an increase of between 67% and 74% in headline earnings per share for the six months to the end of August.
The company said headline earnings per share were expected to come in at 403c to 419c a share, up from 241c a share in the corresponding period a year before.
Famous Brands – which owns restaurant brands including Wimpy, Mugg & Bean and Steers – noted that the results had been impacted by two exceptional items, a R141-million gain and a R20-million impairment.
The positive R141-million was a derivative gain on a call option used to hedge the purchase price of the acquisition of Gourmet Burger Kitchen in the UK, and the comparatively small hit was an impairment of the investment made in 2013 in UAC Restaurants in Nigeria.
The full results are expected on or about October 24.
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