| Mon 24 Jan 2011, 7:17 | | FBR - Famous Brands Limited - Voluntary sales update |
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FBR
FBR
FBR - Famous Brands Limited - Voluntary sales update
FAMOUS BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/004875/06)
Share code: FBR ISIN code: ZAE000053328
("Famous Brands")
VOLUNTARY SALES UPDATE
FAMOUS BRANDS ENJOYS ROBUST HOLIDAY TRADING
Johannesburg, 24 January 2011: Famous Brands has reported strong sales over
the December holiday season, countering concerns that performance would be
restrained following on from exceptional turnovers achieved during the World
Cup period. System wide retail sales (including new restaurants) increased
13.3% on the prior comparative period, while like-on-like sales grew 7.8%
across the franchise network.
Chief Executive Officer, Kevin Hedderwick says, "There was some apprehension
that December turnovers would be soft post the strong consumer spend
experienced during the World Cup. However, I am pleased to report that we
surpassed our expectations to deliver an overall excellent performance.
Without exception, each of the Group`s brands improved like-on-like sales."
20 restaurants were opened during December and the Group remains on track to
meet its target of opening 110 new restaurants in the current fiscal year,
bringing the total franchise network to 1 883.
Hedderwick notes that these results are a reflection of the Group`s portfolio
of well established brands which enjoy strong consumer equity and a function
of their presence in key strategic sites in shopping malls, airports, coastal
resorts and on transient routes nationwide.
"In this regard, Wimpy and Mugg & Bean did particularly well," says
Hedderwick. "In addition, Debonairs Pizza continues to benefit from the
remarkable growth in per capita pizza consumption amongst the emerged market.
In fact, this trend is now even beginning to spread to previously un-serviced
rural areas. Our Debonairs Pizza Express stores which target emerging market
consumers were 49% ahead of budget for the month."
"The robust performance delivered by the Group`s mainstream brands was
complemented by very pleasing turnovers achieved by our recently acquired
brands. tashas` new Gateway restaurant traded exceptionally vigorously,
thereby securing a strong base for the brand in KwaZulu Natal.
Notwithstanding aggressive anti-drink/driving campaigns, the Group`s pub
brands, KEG, McGinty`s and O`Hagan`s did very well, while Vovo Telo, our
niche artisan bakery business produced satisfying results. Famous Brands`
chicken offering, Giramundo, is situated in low profile sites which didn`t
benefit from December holiday trade but still performed in line with
management`s expectations," says Hedderwick.
The financial figures above have not been reviewed and reported on by the
Group`s external auditors.
ends
Notes to editors: The Group`s brand portfolio includes Steers (527), Wimpy
including UK (644), Debonairs Pizza (327), FishAways (114), Mugg & Bean
(113), tashas (7), House of Coffees (21), Brazilian/Brazilian Cafe (52),
Blacksteer (11), Giramundo (4), KEG (28), McGinty`s (5), Vovo Telo (3) and
O`Hagan`s (22). The Group also manufactures and supplies its franchisees and
the retail trade with a wide range of meat, sauce, bakery, ice cream, fruit
juice and mineral water products.
For further information:
Kevin Hedderwick Del-Maree English
Chief Executive Officer Investor Communications
Famous Brands Limited Mobile: 083 395 8608
Telephone: 011 651 5812
Famous Brands` website: www.famousbrands.co.za
Date: 24/01/2011 07:17:11 Produced by the JSE SENS Department.
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