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Famous Brands (owner of Steers/Wimpy/etc.) reports its 1st ever operating loss

26 October 2020 6:52 PM

The Money Show’s Bruce Whitfield interviews Famous Brands CEO Darren Hele.

Famous Brands – the owner of famous brands such as Steers, Wimpy and Debonairs Pizza – reported an operating loss of R109.8 million for the half-year to 31 August 2020.

Revenues plummeted by 48% to R2.01 billion.

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

A solid five weeks [without trading in SA] … The impact in the UK was similar…

Darren Hele, CEO - Famous Brands

Wimpy [UK] is trading exceptionally well… very resilient…

Darren Hele, CEO - Famous Brands

In June, there wasn’t a customer in sight… it’s taking longer [for people to return to restaurant dining] … Big centres and commercial areas are struggling… the action is in smaller, suburban centres… We haven’t reopened OR Tambo, there is no volume…

Darren Hele, CEO - Famous Brands

I think so [asked whether it’s their first operating loss] …

Darren Hele, CEO - Famous Brands

Listen to the interview in the audio below.


26 October 2020 6:52 PM

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