Johannesburg - Famous Brands [JSE:FBR] is planning further UK expansion as the South African owner of fast-food chains including Debonairs Pizza and Steers seeks faster growth in the country and increased revenue from currencies other than the rand.
"I have spent a lot of time going back and forth looking for a suitable asset so we can get some momentum in the UK," strategic adviser and former CEO Kevin Hedderwick said in phone interview on Monday.
The Johannesburg-based restaurant owner has just completed its best-ever year in the UK, yet the business is still "pedestrian" by company standards, he said.
Revenue in the UK gained 13% to R116m in the year to end February, yet fell by 2% in pounds, Famous Brands said in an earlier statement. Total sales were up 31% to R4.3bn, while operating profit gained 18%.