- The Group’s performance recovered in varying degrees across our trading markets, being South Africa (“SA”), Rest of Africa and the Middle East (“AME”) and the United Kingdom (“UK”), from the COVID pandemic’s worst financial impacts, compared to the prior comparative period.
- The Group’s recovery was slowed by the civil unrest experienced in SA during the review period as well as the lockdown restrictions related to the pandemic’s third wave.
- 99 stores were closed at a point in time because of damage caused by the civil unrest, with the majority of the closures in KwaZulu Natal (“KZN”). Our business continuity plans worked well to minimise the operational impact of the damage to our Westmead KZN operation, which is now fully operational again.
The Group’s brand portfolio is categorised into Leading (mainstream) and Signature (niche) brands.
Leading brands’ system-wide sales*# increased by approximately 76%, while like-for-like sales** increased by approximately 72%. Signature brands’ system-wide sales^ increased by approximately 36%, while like-for-like sales increased by approximately 149%
System-wide sales in this region increased by approximately 15%.
* System-wide sales refer to sales reported by all restaurants across the network, including new restaurants opened during the period.
** Like-for-like sales refer to sales reported by all restaurants across the network, excluding restaurants opened or permanently closed during the period.
# Leading brands’ sales refer to sales of the Leading brands trading in SA.
^ Signature brands’ sales refer to SA sales and cross-border sales.
AME sales are denominated in Rand terms.
SUPPLY CHAIN (Manufacturing and Logistics divisions)
This business supports the front-end brands division and Retail in SA. Compared to the comparative period, Manufacturing revenue increased by approximately 65%, while Logistics revenue increased by approximately 74%.
RETAILThis division supplies third-party retailers and wholesalers with branded licensed products. Sales reported for the review period were approximately R105 million (2020: R72 million).
Overall, the Group’s results for the six months ended 31 August 2021 are expected to show a marked recovery on the comparative period, which was severely impacted by the pandemic.
A Trading Statement will be issued as per the JSE Listings Requirements (if required) once the Board of Directors of Famous Brands is satisfied that a reasonable degree of certainty exists concerning the Group’s results for the six months ended 31 August 2021.
The Group’s results for the review period will be published on SENS on or about Wednesday, 27 October 2021.
The financial information on which this announcement is based has not been reviewed or reported on by the Group’s external auditors.
13 September 2021
The Standard Bank of South Africa Limited