Famous Brands has reported a 19% slide in annual headline earnings per share and a basic loss per share of 480c, largely due to impairments relating to the group’s struggling Gourmet Burger Kitchen (GBK) unit.
But Famous Brands is hopeful that the situation at GBK is turning around.
In the 12 weeks following the year-end, the chain produced like-for-like sales growth of 8.1%, “trading ahead of the market”. The group said this improvement is as a result of remedial measures implemented at the unit during the year.
The group has also announced that it will resume dividend payments and a payout of 100c has been declared.
Famous Brands CEO Darren Hele joined Business Day TV about the group’s annual results.
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