Food services franchiser Famous Brands is heading in a better direction in the second half of its financial year, with incremental gains, following a relatively subdued first six-month performance, CEO Darren Hele said yesterday.
The group, which owns many of South Africa's iconic restaurant brands, including Steers, Mug & Bean and Fishaways, raised its interim dividend 9% to 150 cents, reflecting a stable financial position, performance and cash flows.
Although the trading environment was challenging due to constrained consumer disposable incomes, the dividend was a positive indicator of future performance, he said in a telephone interview.
Total first half revenue increased by only 2% to R4.02 billion. Operating profit was flat at R371 million.
Headline earnings a share performed better at 218 cents a share versus 199 cents in 2023,…