Famous Brands’ annual earnings to fall up to a third, with UK burger chain a major cause

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Famous Brands, which bought the UK’s GBK chain for £120m in 2016, has already written down the value of that business by more than R1bn

Famous Brands, whose portfolio includes Steers, Wimpy and Mugg & Bean, says earnings in the year to end-February fell by up to a third as losses widened at its troubled UK burger chain.

GBK has been struggling because of lower consumer confidence amid Brexit talks, the rise of online food delivery and intense competition in the premium burger segment. Famous Brands said on Monday that its basic headline earnings per share in the year ended February fell between 16% and 33%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

LISTEN | So your business has been cancelled? Here’s what to doHow does one avoid and deal with the backlash of marketing that offends a large amount of people? We speak to marketing guru and podcast presenter, Livhuwanu “Lebo Lion” Nefolovhodwe
Source: SowetanLIVE - 🏆 13. / 63 Read more »