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Profits up at South African restaurants group Famous Brands

SA’s biggest fast-food restaurant chain reported a 16% rise in profits its 15th consecutive year of growth.

FILE: Famous Brands bought a 70% stake in the Wakaberry self-service chain of frozen yoghurt bars. Picture: Facebook.

JOHANNESBURG - Famous Brands, South Africa's biggest fast-food restaurant chain, reported a 16 percent rise in profits on Monday, its fifteenth consecutive year of growth.

The company, which owns chains such as Debonairs Pizza and Mugg & Bean, said headline earnings per share totalled 541 cents for the year ended 29 February, up from 467 cents last year, on revenue up 31 percent at R4.3 billion.

The company said group revenue growth was "attributable to organic and acquisitive growth, including healthy system-wide sales in the franchise Brand portfolio and integration of new business in the logistics and manufacturing operations".

A total of 184 new restaurants were opened across the brand portfolio, bringing the total restaurant network to 2,614, the company said.

The Group's target is to open a total of 48 new restaurants in the rest of Africa region in the year ahead.

Famous Brands declared a final dividend of 215 cents, raising the total dividend by 14 percent to 405 cents from 355 cents the previous year.

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