Restaurant group Famous Brands, owner of Steers, Wimpy and Debonairs Pizza, has opted to fork out R200m to shareholders for 2022, pleased with significantly improved results as it recovers from Covid-19, but warning that economic conditions remain tough and competition fierce.
Revenue rose 38% to R6.5bn to end-February, the group said on Tuesday, in line with pre-pandemic levels, while operating profit rocketed 428% to R630m. In the prior year there had been hefty writedowns to its struggling UK business, Gourmet Burger Kitchen, which went into business rescue...
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