Famous Brands earnings drop after shopping spree

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(Famous Brands)
(Famous Brands)

Cape Town - Africa’s largest branded food services franchisor Famous Brands [JSE:FBR] on Monday posted a 33% increase in revenue on the back of a robust acquisition spree and the successful integration into the business.

The group’s vertically integrated business model now comprises a portfolio of 27 brands represented by 2 782 restaurants across South Africa, the Rest of Africa and the Middle East, and the United Kingdom.

Revenue for the period grew by 33% to R5.7bn (2016:  R4.3bn), which includes 20 weeks of turnover contribution from the newly acquired Gourmet Burger Kitchen (GBK) of the UK, Famous Brands' largest acquisition to date.

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