FAMOUS BRANDS LIMITED - Further Trading Statement

Further Trading Statement

 FAMOUS BRANDS LIMITED
 (Incorporated in the Republic of South Africa)
 (Registration number 1969/004875/06)
 Share code: FBR
 ISIN code: ZAE000053328

 (“Famous Brands” or “the Company” or “the Group”)

 FURTHER TRADING STATEMENT

 Further to the trading statement released by the Company on the Stock
 Exchange News Service of the JSE Limited on 8 March 2018 (“Trading
 Statement”), Famous Brands is satisfied that it now has the
 reasonable degree of certainty required to provide further guidance
 with regard to the financial results of the Group for the twelve
 months ended 28 February 2018 (“the review period”).

 BUSINESS PERFORMANCE

 The Group’s SA business (comprising its Brands, Logistics and
 Manufacturing divisions) will report an improvement in Profit Before
 Interest and Tax (“PBIT”) compared to the prior comparable period.

 In the Trading Statement, shareholders were advised that in the
 context of the prevailing adverse macro-economic environment in the
 UK, impairments and a provision for property related expenses would
 be recognised related to the Group’s investment in the UK business,
 GBK Restaurants Limited (“GBK”).

 GBK recorded an Operating loss of GBP7.8 million for the review
 period. The board of directors (“the Board”) remains confident that
 the interventions being implemented in the business will ensure that
 GBK returns to profitability in the medium term.


 RESULTS

 As cautioned in the Trading Statement, the Group’s consolidated
 results for the twelve months under review are weaker than those
 reported in the prior comparable period, negatively affected by:

 i.    an impairment of intangible assets at Group level of ZAR304
       million;
ii.    an impairment of property, plant and equipment of GBP4.2 million
       (ZAR69 million) at GBK; and
iii.   a provision for property related expenses of GBP2.0 million
       (ZAR33 million) at GBK.

 For the twelve months ended 28 February 2018, headline earnings per
 share (“HEPS”) compared to the prior comparable period are expected
 to be within the range of 327 cents to 405 cents per share (2017:
 428 cents per share), being an approximate decrease of 5% to 24%.

 For the twelve months ended 28 February 2018, basic earnings per
 share (“EPS”) compared to the prior comparable period are expected
 to decrease to within the range of 18 cents per share to 23 cents
 per share (2017: 414 cents per share), being an approximate decrease
 of 94% to 96%.

The annual results of the Company for the year ended 28 February
2018 will be released on 24 May 2018.

A live webcast will be held at 11:30 (SAST) on 24 May 2018.

To pre-register link to:
http://themediaframe.eu/links/famousbrands180524.html


The financial information on which this trading statement is based
has not been reviewed or reported on by the Company’s external
auditors.

17 May 2018
Midrand


Sponsor
The Standard Bank of South Africa Limited

Date: 17/05/2018 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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