Famous Brands Limited - Trading statement in respe
FBR
FBR
Famous Brands Limited - Trading statement in respect of the year ended 28
February 2006
Famous Brands Limited
Incorporated in the Republic of South Africa
Registration number 1969/004875/06
Share code: FBR
ISIN: ZAE000053328
"Famous Brands" or "the group"
TRADING STATEMENT IN RESPECT OF THE YEAR ENDED 28 FEBRUARY 2006
In terms of the Listings Requirements of the JSE Limited ("JSE Listings
Requirements"), companies are required to publish a trading statement as soon as
they become aware that the financial results for the period to be reported upon
next will differ by at least 20% from that of the previous corresponding period.
Famous Brands accordingly advises that it expects earnings per share and
headline earnings per share for the year ended 28 February 2006 to be between 30
to 40 percent above earnings per share and headline earnings per share reported
for the previous corresponding period.
Famous Brands further advises that these results will be presented in accordance
with International Financial Reporting Standards ("IFRS"). As a result of the
IFRS adjustments, attributable earnings and headline earnings for the year ended
28 February 2005 have been restated to R53.1 million (from R43.4 million) and
R51.7 million (from R49.9 million) respectively.
This improved performance is primarily attributable to the following:
* The combination of favourable macro-economic conditions, positive industry
trends and management"s achievements in unlocking value inherent in the
business.
* Strength of the group"s brands and optimisation of capital expenditure and
investment.
* The primary drivers propelling the category which remain robust, namely the
exponential growth of the emerged middle class, the pursuit of lifestyle
convenience and the evolving trend of out of home consumption.
Whilst margin squeeze was experienced in the Food Services division due to both
operating and capital expenditure, this investment has substantially
strengthened the group"s strategic position to capitalise on growth
opportunities in the group"s Food Services division. Operating margins in the
Franchise division continued to improve.
The information on which the above trading statement is based has not been
reviewed or reported on by the company"s auditors.
The financial results of the group will be published on Monday, 29 May 2006.
Rosebank
17 May 2006
Sponsor
Java Capital (Proprietary) Limited
Date: 17/05/2006 10:25:31 AM Produced by the JSE SENS Department
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