Famous Brands surges after it flags return to profit
Restaurant franchises owner’s good figures buck trend of lockdown restrictions hitting earnings
11 May 2022 - 18:28
The share price of Famous Brands, owner of Steers, Wimpy and Mugg & Bean, surged more than 10% at one stage on Wednesday after it said lockdown restrictions and last July’s unrest did not derail its return to full-year profit.
Headline earnings per share (heps) from continuing operations are expected to rise 504%-639% to as much as 392c for the year to end-February, the group said in an update. But this profit measure, which excludes some once-off items, is still below prepandemic levels. ..
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