Famous Brands profits up as sales rise

Johannesburg - Famous Brands [JSE:FBR], South Africa's biggest fast-food restaurant chain, reported a 16% rise in profits on Monday, its fifteenth consecutive year of growth.

The company, which owns chains such as Debonairs Pizza and Mugg & Bean, said headline earnings per share totalled 541 cents for the year ended February 29, up from 467 cents last year, on revenue up 31% at R4.3bn.

The company said group revenue growth was "attributable to organic and acquisitive growth, including healthy system-wide sales in the franchise Brand portfolio and integration of new business in the logistics and manufacturing operations".

A total of 184 new restaurants were opened across the brand portfolio, bringing the total restaurant network to 2 614, the company said.

The group's target is to open a total of 48 new restaurants in the rest of Africa region in the year ahead.

Famous Brands declared a final dividend of 215 cents, raising the total dividend by 14% to 405 cents from 355 cents the previous year.