Tag: Famous Brands
Famous Brands is selling its 51 per cent controlling stake in Tashas, to the founding family. This is in line with the group’s three year strategy to focus less on its signature brands portfolio. The founding family of Tasha’s currently holds the remaining 49 per cent. Tashas Founder, Natasha Sideris joins CNBC Africa for more.
Famous Brands, the owner of several of South Africa’s best loved restaurant chains has scrapped its dividend for the second half of its financial year to preserve its balance sheet. The owner of Steers and Tashas warned that the COVID-19 pandemic has had a significant negative impact on the group. Famous Brands CEO, Darren Hele joins CNBC Africa for more.
Famous Brands has released its interim results for the six months-end August 2019. The food services franchisor which owns Mugg & Bean, Steers and Wimpy has seen a rise of consumers ordering food online, putting the sustainability of restaurants on the line. The group declared an interim dividend of 90 cents per share. CEO of Famous Brands, Darren Hele joins CNBC Africa to discuss the numbers further.
Food franchise group, Famous Brands, is reporting a 5 per cent knock down in operating profit for the financial year ended February 28, 2019. The added convenience brought to consumers by online platforms boosted the group's fast food business. Famous Brands declared a final dividend of 100 cents per share. Joining CNBC Africa for more is Group CEO, Darren Hele.
South African fast food group Famous Brands scrapped its dividend on Monday for the first time in 13 years, seeking to conserve capital after debt levels rose following seven acquisitions, which include Gourmet Burger Kitchen.