Quick service restaurant food group Famous Brands has said that maintaining compounds growth at current levels would be ‘challenging’, after reporting a strong set of results for the year ended February.
Fully diluted line earnings per share grew by 38 percent to 78.7 cents from 57 cents previously.
Revenue was up 44 percent to R669.2-million, while operating profit grew 17 percent to R109.4-million.
Attributable profit was 34 percent higher at R70.9-million.
Dividend hike
The company resolved to pay a final dividend of 17 cents per share, up from 10 cents a year earlier.
Famous Brands currently has 1165 restaurants under franchise and its brand portfolio comprises Steers, Wimpy, Debonairs Pizza, FishAways, House of Coffees Coffee Shops, Brazilian Coffee Shops and Whistle Stop.
The company said on Monday that the strong results reflected the combination of favourable macro-economic conditions, positive industry trends and management’s achievements in unlocking value inherent in the business.
During the review period a decision was taken to realign the business model. The group’s two major divisions — franchising and food services — have been compartmentalized into new operating divisions.
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