JSE-listed Famous Brands reported a 568% rise in headline earnings per share to 365 cents for the year ended February 28, coming off a low base in 2021 marked by Covid-19 lockdown restrictions, supply chain challenges and alcohol bans. The owner of well-known fast food brands Steers, Debonairs, and Fishaways also posted a significant recovery in other key metrics. Group revenue increased by 38% to R6.5 billion, whilst operating profit climbed 428% to R630 million compared to the previous year.
5% and improved its national case volumes by 54%. “Our next steps are to relocate our KwaZulu-Natal Distribution Centre, move our Gauteng cold storage centre and secure a cross-docking facility near Mthatha.” Famous Brands CEO Darren Hele tells Moneyweb during the group’s results presentation that its decision to relocate its KZN distribution centre is not linked to the recent unfortunate events that took place in the province over the last year.
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