Famous Brands expects a substantial drop in earnings for the six months ended 31 August 2023 (H1 2024).<\/p>\n\n\n\n
The group is the franchisor for Steers, Debonairs, Wimpy, Mugg & Bean,\u00a0FishAways, Mythos, Turn n Tender and many more. <\/p>\n\n\n\n
In a trading update for H1 2024, the group said it continued to see an improvement in its revenue performance, primarily due to further improvements across its value chain. <\/p>\n\n\n\n
“However, the high levels of sustained load shedding, related cost pressures and a challenging economic environment impacted the group’s profitability,” it said. <\/p>\n\n\n\n
With this in mind, the group expects headline earnings per share to be between 178 cents and 221 cents per share, representing a change of between -17% and 3% compared to the comparable period in 2022. <\/p>\n\n\n\n
In addition, the reported basic earnings per share (BEPS) is expected to be between 174 cents and 225 cents per share, representing a decrease of between -33% and -13% from the comparable period in 2022. <\/p>\n\n\n\n
“The reduction in BEPS is predominantly due to the Gourmet Burger Kitchen Limited (GBK) liquidation dividend of R75 million received in August 2022,” the group said. <\/p>\n\n\n\n
“Excluding the GBK liquidation dividend, the reported BEPS would have been between 180 cents and 217 cents per share for August 2022.”<\/p>\n\n\n\n The group said it will publish its results on SENS on or near Tuesday, 24 October 2023.<\/p>\n\n\n\n<\/td> 31 August 2022<\/td> Expected % Change <\/td> 31 August 2023<\/td><\/tr> HEPS<\/td> 215<\/td> (17%)<\/mark> – 3%<\/mark><\/td> 178 – 221<\/td><\/tr> BEPS<\/td> 259<\/td> (33%) <\/mark>–<\/mark> (13%)<\/mark><\/td> 174 – 225<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n
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