Johannesburg – Famous Brands director John Halamandres has sold shares in the company worth just more than R1 million.
In a statement to shareholders on Wednesday, the listed casual dining group disclosed that Halamandres had sold shares in two tranches.
The first was for 2 000 shares at R156 each, while the second sales was for 5 000 shares at the same price.
Famous Brands’ stock is trading at about R151.88.
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Halamandres’ transactions tool place on December 29 and 30, the listed company says.
A non executive director, Halamandres was a founding member of the company and served as MD November 1994 until March 1997, after which he assumed the role of CEO until his appointment as non-executive deputy chairman in March 2001, a position he held until May 2010.
In the 6 months to August, the company reported a 17 percent in operating profit to R404 million, but said it would hold back on a dividend payout.
Famous Brands, the owner of Steers, Mugg & Bean and Wimpy, bought 6 companies last year including the UK’s Gourmet Burger Kitchen and Lamberts Bay Foods.
In the half year, the group increased revenue by 23 percent to R2.45 billion, from R2 billion.
Basic earnings per share grew 62 percent to 391 cents from 242c in the prior corresponding period, while headline earnings per share increased 71 percent to 411c as compared with 241c.
Famous Brands has a portfolio of 30 brands represented by a franchise network of 2 626 restaurants across South Africa, the rest of Africa, the Middle East and the UK.