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Famous Brands share price rises sharply on big earnings forecast

Published May 12, 2022

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FAMOUS Brands’ share price shot up 9.03 percent to R63.25 yesterday after it released a trading statement that showed its financial performance had recovered well in the year to February 28, 2022.

The branded food services franchisor said the Covid-19 pandemic and national lockdowns and trading restrictions continued to affect its results, but it had recovered from the “pandemic’s worst financial impacts,” when compared to the prior comparable year.

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In addition, the prior comparable year’s earnings had included a loss from discontinued operations of R1.1 billion.

As a result, headline earnings per share (Heps) were expected to increase between 473 percent and 555 percent compared to the prior comparable year.

Basic earnings per share (Beps) (including discontinued operations) was expected to increase between 123 percent and 128 percent.

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Heps from continuing operations were expected to be within the range of 320 cents to 392 cents and Beps between 285 cents to 349 cents.

BUSINESS REPORT

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