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Famous Brands Limited - Trading Statement In Respect Of The Six Months

Release Date: 11/10/2006 09:30
Code(s): FBR
Wrap Text

Famous Brands Limited - Trading Statement In Respect Of The Six Months Ended 31 August 2006 FAMOUS BRANDS LIMITED Incorporated in the Republic of South Africa Registration number 1969/004875/06 Share code: FBR ISIN: ZAE000053328 "Famous Brands" or "the group" TRADING STATEMENT IN RESPECT OF THE SIX MONTHS ENDED 31 AUGUST 2006 In terms of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they become aware that the financial results for the period to be reported upon next will differ by at least 20% from that of the previous corresponding period. Famous Brands accordingly advises that it expects earnings per share and headline earnings per share for the six months ended 31 August 2006 to be between 20 to 25 per cent above earnings per share and headline earnings per share reported for the prior comparative period. Famous Brands further advises that these results will be presented in accordance with International Financial Reporting Standards ("IFRS"). This improved performance is primarily attributable to the following: Strong like-on-like (excluding the contribution from new restaurants) and system wide sales in the franchise division driven by steadfast demand for the group"s franchise brands Sustained growth of the group"s target market - the emerged middle class Improved turnover in the food services division with integration of a further portion of the Wimpy manufacturing business. Whilst margins in the franchise division remained firm, margins in the food services division continued to be pressured. Management is of the opinion that a considerably improved performance can be extracted from the food services division through further optimisation of efficiencies introduced by recent capital expenditure, and that margin improvement in the food services division will be achieved by year end. The information on which the above trading statement is based has not been reviewed or reported on by the company"s auditors. The financial results of the group will be published on SENS on or about Monday, 23 October 2006. Rosebank 11 October 2006 Sponsor Java Capital (Proprietary) Limited Date: 11/10/2006 09:30:11 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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