| Tue 11 Oct 2016, 7:30 | | FAMOUS BRANDS LIMITED - Trading Statement |
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FBR 201610110001A
Trading Statement
FAMOUS BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/004875/06)
Share code: FBR
ISIN code: ZAE000053328
(“Famous Brands” or “the Company”)
Trading statement
Famous Brands is satisfied that a reasonable degree of certainty exists with regard to the
financial results of the Company for the six months ended 31 August 2016 (“the review
period”) and thus is in a position to issue this trading statement in terms of Section 3.4(b)(i)
of the Listings Requirements of the JSE Limited (“JSE”).
The results for the review period have been impacted upon by two exceptional items:
- a R141 million derivative gain on the call option that was utilised to hedge the purchase
price of the acquisition of GBK Restaurants Limited in the United Kingdom, of which
details were published on the Stock Exchange News Service (“SENS”) of the JSE on 1
September 2016; and
- a R20 million impairment of the investment made in 2013 in UAC Restaurants Limited in
Nigeria.
Accordingly, headline earnings per share (“HEPS”) compared to the comparative prior period
are expected to increase in the range of 67% to 74%, being 403 cents per share to 419
cents per share (2015: 241 cents per share). HEPS, before exceptional items, compared to
the comparative prior period are expected to increase in the range of 10% to 14%, being 264
cents per share to 275 cents per share (2015: 241 cents per share).
Basic earnings per share (“EPS”) compared to the comparative prior period are expected to
increase in the range of 58% to 65%, being 383 cents per share to 399 cents per share
(2015: 242 cents per share). Basic EPS, before exceptional items, compared to the
comparative prior period are expected to increase in the range of 10% to 14%, being 265
cents per share to 276 cents per share (2015: 242 cents per share).
The financial information on which this trading statement is based has not been reviewed or
reported on by the Company’s external auditors.
The results for the review period will be released on SENS on or about Monday, 24 October
2016.
Midrand
11 October 2016
Sponsor
The Standard Bank of South Africa Limited
Date: 11/10/2016 07:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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