Famous Brands (Steers, Debonairs, Wimpy, etc.) burned in UK, reports huge loss

If I had to take another transaction in the UK to shareholders, I think they’d lynch me!

Darren Hele, Famous Brands

You can get cage-free eggs, but it’s such a small part of the market… it’s not easy to just change it… We source about 50 million eggs per year…

Darren Hele, Famous Brands

Famous Brands on Monday reported a loss of R544 million for the six months to 31 August 2018.

The food franchisor – Africa’s largest – was burned by an R874 million write-down of its United Kingdom chain Gourmet Burger Kitchen.

Revenues increased by 5.4% to R3.6 billion.

Famous Brands owns 25 restaurant brands - including Debonairs Pizza, Wimpy, Steers, Mugg & Bean, etc. - representing 2784 restaurants across the Continent, the Middle East and the UK.

The Money Show’s Bruce Whitfield interviewed Darren Hele, CEO at Famous Brands.

Listen to the interview in the audio below (and scroll down for more quotes from it).

The environment in the UK has changed so much… If the creditors agree, we’ll be able to exit the leases…

Darren Hele, Famous Brands

For 10 years… it [Wimpy in the UK] never cost us anything…

Darren Hele, Famous Brands

We’re not worried about growth opportunities…

Darren Hele, Famous Brands

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : Famous Brands (Steers, Debonairs, Wimpy, etc.) burned in UK, reports huge loss


Recommended

by NEWSROOM AI
Read More
Clicks profits surge by 15.1% to R2.04 billion

Clicks profits surge by 15.1% to R2.04 billion

Someone tell Clicks (and its customers) we’re in a recession! Bruce Whitfield interviews David Kneale, CEO at Clicks.

Brian Joffe’s Long4Life posts good results. Still has R1 billion to invest

Brian Joffe’s Long4Life posts good results. Still has R1 billion to invest

Bruce Whitfield interviews Long4Life CEO Brian Joffe about his company’s results for the six months to 31 August 2018.

2 red-hot JSE-listed shares to buy, right now (by Ashburton)

2 red-hot JSE-listed shares to buy, right now (by Ashburton)

The Money Show’s Bruce Whitfield interviews Suvasha Kander, a Fund Manager at Ashburton.

Dis-Chem gains market share, increases profits (to open a new store each month)

Dis-Chem gains market share, increases profits (to open a new store each month)

The Money Show’s Bruce Whitfield interviews Rui Morais, CFO at Dis-Chem Pharmacies.

Pick n Pay sells most groceries in 5 years

Pick n Pay sells most groceries in 5 years

Recession? What recession? The Money Show’s Bruce Whitfield interviews Pick n Pay CEO, Richard Brasher.

Hottest JSE-listed shares to buy, right now (by Arqaam Capital)

Hottest JSE-listed shares to buy, right now (by Arqaam Capital)

The Money Show’s Bruce Whitfield asks portfolio manager Ashraf Mohamed what he is buying right now.

Popular articles
[VIDEOS AND PHOTOS] SANDF troops finally roll into the Cape Flats

[VIDEOS AND PHOTOS] SANDF troops finally roll into the Cape Flats

Residents were out on the streets to watch the troops arriving in Manenberg and Hanover Park on Thursday afternoon.

You made a huge mistake downloading FaceApp if your privacy is important to you

You made a huge mistake downloading FaceApp if your privacy is important to you

Washington Post technology columnist Geoffrey A. Fowler did a forensic analysis of the Russia-based app. Check it out.

Woolworths (at R40 a cup!) makes the best takeaway hot chocolate in South Africa

Woolworths (at R40 a cup!) makes the best takeaway hot chocolate in South Africa

Seattle Coffee Company has the worst takeaway hot chocolate in the country, according to, uhm, "research" by Chaos Theory.

Beware 'dodgy' Nadal vs Federer ticket offers

Beware 'dodgy' Nadal vs Federer ticket offers

The Roger Federer Foundation says no ticket platforms are yet in possession of, nor have guaranteed allocation of tickets.

[WATCH] Mzansi's Ndlovu Youth Choir headed for AGT's live shows!

[WATCH] Mzansi's Ndlovu Youth Choir headed for AGT's live shows!

The choir that is stealing America's hearts is headed to the next round of America's Got Talent.

How Christo Wiese became the richest in SA, and how it all came crashing down

How Christo Wiese became the richest in SA, and how it all came crashing down

The Money Show’s Bruce Whitfield interviews TJ Strydom, author of “Christo Wiese - Risk And Riches”.

[LISTEN] The truth about life on the Cape Flats...by the people who live there

[LISTEN] The truth about life on the Cape Flats...by the people who live there

Residents living on the crime-ridden Cape Flats share their first-hand experiences of life in 'apartheid's dumping ground'.

Paying off your credit card every month to avoid interest? The banks are sneaky…

Paying off your credit card every month to avoid interest? The banks are sneaky…

Consumer journalist Wendy Knowler warns prudent credit card holders to keep tabs on their banks. In this case, it’s FNB.