Famous Brands (Steers, Debonairs, Wimpy, etc.) burned in UK, reports huge loss

If I had to take another transaction in the UK to shareholders, I think they’d lynch me!

Darren Hele, Famous Brands

You can get cage-free eggs, but it’s such a small part of the market… it’s not easy to just change it… We source about 50 million eggs per year…

Darren Hele, Famous Brands

Famous Brands on Monday reported a loss of R544 million for the six months to 31 August 2018.

The food franchisor – Africa’s largest – was burned by an R874 million write-down of its United Kingdom chain Gourmet Burger Kitchen.

Revenues increased by 5.4% to R3.6 billion.

Famous Brands owns 25 restaurant brands - including Debonairs Pizza, Wimpy, Steers, Mugg & Bean, etc. - representing 2784 restaurants across the Continent, the Middle East and the UK.

The Money Show’s Bruce Whitfield interviewed Darren Hele, CEO at Famous Brands.

Listen to the interview in the audio below (and scroll down for more quotes from it).

The environment in the UK has changed so much… If the creditors agree, we’ll be able to exit the leases…

Darren Hele, Famous Brands

For 10 years… it [Wimpy in the UK] never cost us anything…

Darren Hele, Famous Brands

We’re not worried about growth opportunities…

Darren Hele, Famous Brands

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
Clicks profits surge by 15.1% to R2.04 billion

Clicks profits surge by 15.1% to R2.04 billion

Someone tell Clicks (and its customers) we’re in a recession! Bruce Whitfield interviews David Kneale, CEO at Clicks.

Brian Joffe’s Long4Life posts good results. Still has R1 billion to invest

Brian Joffe’s Long4Life posts good results. Still has R1 billion to invest

Bruce Whitfield interviews Long4Life CEO Brian Joffe about his company’s results for the six months to 31 August 2018.

2 red-hot JSE-listed shares to buy, right now (by Ashburton)

2 red-hot JSE-listed shares to buy, right now (by Ashburton)

The Money Show’s Bruce Whitfield interviews Suvasha Kander, a Fund Manager at Ashburton.

Dis-Chem gains market share, increases profits (to open a new store each month)

Dis-Chem gains market share, increases profits (to open a new store each month)

The Money Show’s Bruce Whitfield interviews Rui Morais, CFO at Dis-Chem Pharmacies.

Pick n Pay sells most groceries in 5 years

Pick n Pay sells most groceries in 5 years

Recession? What recession? The Money Show’s Bruce Whitfield interviews Pick n Pay CEO, Richard Brasher.

Hottest JSE-listed shares to buy, right now (by Arqaam Capital)

Hottest JSE-listed shares to buy, right now (by Arqaam Capital)

The Money Show’s Bruce Whitfield asks portfolio manager Ashraf Mohamed what he is buying right now.

Popular articles
[WATCH] Mr South Africa not so ayoba

[WATCH] Mr South Africa not so ayoba

Khabazela shares tweets that have social media going on a frenzy.

How to best save and invest for your children

How to best save and invest for your children

What is the best financial gift you can give your children? Personal financial advisor Warren Ingram has a few answers.

Why Shoprite wants to pay Christo Wiese R3.3 billion

Why Shoprite wants to pay Christo Wiese R3.3 billion

Simon Brown on why is Shoprite wants shareholders to approve paying R3.3bn to Christo Wiese for his high-voting shares.

Retain body heat with an aluminium foil this winter, advises City of Joburg

Retain body heat with an aluminium foil this winter, advises City of Joburg

Khabazela shares what has kept social media abuzz on What's Gone Viral.

Should we care that Malema has joined the Inanda Country Club? analysts discuss

Should we care that Malema has joined the Inanda Country Club? analysts discuss

Eusebius McKaiser facilitates debate on the symbolism of a pro-poor politician joining an elite club that caters for the rich.