Famous brands reports 15% jump in full year revenue driven by robust sales growth in Africa

SOUTH AFRICA – Famous Brands, Africa’s leading branded food services franchisor, has reported a 15% increase in revenue to R6.5-billion for the year ended February 28.

The double digit growth in sales was driven by a vibrant Africa where system-wide sales increased has 31% during the year.

Operating profits in Africa decreased by R10-million in the period. This however did not prevent the company from reporting a rise in companywide operating profit to R861-million, from R630-million in the prior year.

Famous Brands said its revenues have now exceeding pre-pandemic levels, after the group focused on improving cash generation from operations and controlling its cost base tightly, despite high inflation, input cost increases, and loadshedding.

“While the marketplace remains highly competitive as brands fight to retain market share, we continue to experience good brand growth, revamp activity, and demand for our brands from potential franchise partners,” CEO Darren Hele said.

She noted that trading conditions in South Africa remain challenging, with the restaurant industry being highly exposed to loadshedding.