for subscribers

Famous Brands plans UK drive to diversify from rand

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

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%.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.45
(+0.15)
ZAR/GBP
22.74
(+0.43)
ZAR/EUR
20.58
(-0.19)
ZAR/AUD
12.51
(-0.02)
ZAR/JPY
0.16
(+0.56)
Gold
1919.74
(+0.74)
Silver
25.52
(+2.81)
Platinum
928.15
(+0.93)
Brent Crude
44.46
(-1.09)
Palladium
2135.00
(+2.60)
All Share
57417.28
(+0.44)
Top 40
53126.54
(+0.56)
Financial 15
10139.85
(-0.74)
Industrial 25
76210.18
(+0.91)
Resource 10
58992.57
(+0.54)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 975 votes
It depends on how the funds are used.
74% - 6473 votes
No. We should have gotten the loan elsewhere.
15% - 1341 votes
Vote