Fast food franchise house Famous Brands expects its headline earnings a share for the year to February to be between 25 percent and 30 percent higher than a year earlier.
The group said yesterday that headline earnings a share, diluted headline earnings a share and earnings a share would likely be between R1.99 and R2.07. Retail analyst Chris Gilmour from Absa Investments said the trading statement showed the group had improved in the past year despite consumers' financial burdens.
"A few years ago, the group started opening stores close to a number of townships, which may have helped," he noted. Gilmour said Famous Brands, whose brands include Debonairs and Steers, may have benefited from the "convenience factor".
Famous Brands stock soared 8.41 percent to close at R30.95 on the JSE yesterday.- Florence de Vries