The restaurant owner turns last year’s loss into a profit and gets debt back to comfortable levels
Restaurant group Famous Brands, the owner of Wimpy, Steers, Debonairs and Vovo Telo, has resumed paying dividends as it reversed last year’s loss into a profit and met debt obligations.
As the economy opened up in 2021, the company that makes money from restaurant franchise fees reported a R355m profit in the year to end-February after a loss of R105m...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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Famous Brands restores dividend, but warns competition remains fierceThe restaurant owner says revenue rose more than a third in 2022 to near pre-pandemic levels, and it has opted for a R2 per share dividend
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Famous Brands restores dividend, but warns competition remains fierceThe restaurant owner says revenue rose more than a third in 2022 to near pre-pandemic levels, and it has opted for a R2 per share dividend
Read more »