Famous Brands’ earnings rebounds after impairment
The owner of Steers and Wimpy had impaired its struggling UK chain Gourmet Burger Kitchen by R874m in the six months to end-August 2018
Famous Brands, the owner of Steers, Wimpy and Debonairs Pizza, said on Friday that interim earnings to end-August would rebound, as it continues to try putting problems at its struggling Gourmet Burger Kitchen (GBK) behind it.
Basic earnings per share were expected to be 143c-175c for the period, up to a 131% improvement compared with the prior period’s 572c loss per share. The rebound was largely due to the R874m impairment of its UK restaurant chain GBK in the prior comparative period.