Famous Brands, the owner of brands including Steers, Debonairs Pizza, Milky Lane, among others, said yesterday headline earnings per share was expected to be between 221 cents and 178 cents per share for the six months to August 31, representing a change of between 3% and -17% when compared to the prior comparable period.
“The business continued to improve its revenue performance mainly due to further improvements across the value chain. However, the high levels of sustained load shedding, related cost pressures and a challenging economic environment impacted the profitability of the group,’ the company said in a trading update.
Basic earnings per share (BEPS) was expected to be between 225 cents and 174 cents, representing a decrease of between 13% and 33% compared to the prior comparable period.
A reduction in BEPS was mainly due to the Gourmet Burger Kitchen liquidation dividend of R75m that was received in August 2022.
Excluding the GBK liquidation dividend, the reported BEPS would have been between 180 cents and 217 cents per share for August 2022.