GBK Restaurant meets July revenue target

13th August 2020

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

JSE-listed Famous Brands says it is satisfied with the operational performance of the GBK Restaurant stores that are trading.

In an update to shareholders on August 13, it said 37 of the 62 GBK stores in the UK were open and offering delivery, collect and dine-in service.

It stated that customers had responded positively to the reopening of the restaurants within the government guidelines.

Further, the company reported that it had met its previously forecast revenue generation estimates for July, being 49% of that earned in July 2019.

Famous Brands previously indicated that it would not provide further financial assistance to GBK and the GBK board is reviewing the options available to the business, with deliberations still under way.

The GBK business remains focused on navigating its recovery from the impact of the Covid-19 pandemic on the economy and the industry.

This includes flexing the model to capitalise on opportunities to gain market share and leveraging GBK’s equity as the leading burger brand in the UK’s premium burger category.

“The board of GBK will continue to explore all options to ensure the long-term sustainability of the business in the wake of the severe impact of continued trading restrictions and the slow phased restart of the economy.”

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION