Johannesburg - Famous Brands, South Africa's biggest fast-food restaurant chain, reported a 16 percent rise in profits on Monday, its 15th consecutive year of growth.
The company, which owns chains such as Debonairs Pizza and Mugg & Bean, said headline earnings per share totalled 541 cents for the year ended February 29, up from 467 cents last year, on revenue up 31 percent at R4.3 billion ($273 million).
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The company said group revenue growth was “attributable to organic and acquisitive growth, including healthy system-wide sales in the franchise brand portfolio and integration of new business in the logistics and manufacturing operations”.
A total of 184 new restaurants were opened across the brand portfolio, bringing the total restaurant network to 2 614, the company said.
The group's target is to open a total of 48 new restaurants in the rest of Africa region in the year ahead.
Famous Brands declared a final dividend of 215 cents, raising the total dividend by 14 percent to 405 cents from 355 cents the previous year.
REUTERS