Famous Brands which holds brands such as Debonairs, Milky Way, Mugg & Bean and Wimpy, expects to lift its interim headline earnings per share (Heps) by between 99% and 143%.
It said in a trading statement yesterday that the business continued to steadily recover since Covid-19 restrictions were lifted and customers started returning to restaurants.
The Heps were likely to be between 193 - 236 cents for the six months ended August 31, 2022 from 97c the prior comparable period.
Reported basic earnings per share (Beps) was expected to increase between 143% and 197%, at between143 - 197c, when compared to the prior comparable period.
The improvement in earnings was mainly driven by an increase in revenue across the business. Furthermore, Beps, was positively impacted by the GBK Restaurants, UK (GBK) liquidation dividend of R75 million that was paid in August.
In an update in July, the firm had said it had opened 45 stores year-to-date and the relocation of the KwaZulu-Natal logistics facility was on track for November.
The group's results are expected to be out on October 26.
In intraday trade Famous Brands share was at at roughly R54, having shed -30.31% in the year to date.
BUSINESS REPORT