Famous Brands (FBR) FY24 – Results Snapshot

Diluted HEPS of 465.0 cps (FY23: 488.0 cps).
Revenue growth of +7.8% y-y (FY23: +14.9% y-y).
GPM down -50 bps to 42.2% (FY23: 42.7%).
Operating margin down -150bps to 10.1% (FY23: 11.6%).
Expense to sales up to 32.4% (FY23: 32.2%).
Dividend of 302.0cps (FY23: 363.0cps).
Despite several challenges, South African consumers are more resilient and spend time at restaurants or order take away meals.
Franchise partners that invested in alternative power solutions were assisted with a 1% break (0.5% royalty and 0.5% marketing) on all sales generated during load shedding.
Manufacturing revenue increased by 9.4% to R3.3 billion (FY23: R3.0 billion) despite weaker demand and lower volumes from the front end.