Fa­mous Brands di­rec­tor sells R1m shares

The Star Early Edition - - BUSINESS REPORT -

FA­MOUS Brands di­rec­tor John Hala­man­dres has sold shares in the com­pany worth just more than R1 mil­lion. The listed ca­sual din­ing group dis­closed that Hala­man­dres sold shares in two tranches. The first was for 2 000 shares at R156 each, while the sec­ond sales was for 5 000 shares at the same price. Fa­mous Brands’ stock is trad­ing at about R151.88. Hala­man­dres’ trans­ac­tions took place on De­cem­ber 29 and 30, the com­pany said. Hala­man­dres, was a found­ing mem­ber of the com­pany and served as man­ag­ing di­rec­tor from Novem­ber 1994 un­til March 1997, af­ter which he as­sumed the role of chief ex­ec­u­tive un­til his ap­point­ment as nonex­ec­u­tive deputy chair­man in March 2001, a po­si­tion he held un­til May 2010. In the six months to Au­gust, the com­pany re­ported a 17 per­cent growth in op­er­at­ing profit to R404m. Fa­mous Brands, the owner of Steers, Mugg & Bean and Wimpy, bought six com­pa­nies last year in­clud­ing the UK’s Gourmet Burger Kitchen and Lam­berts Bay Foods. In the half year, the group in­creased rev­enue by 23 per­cent to R2.45 bil­lion, from R2bn. Ba­sic earn­ings per share grew 62 per­cent to 391c from 242c in the prior cor­re­spond­ing pe­riod, while head­line earn­ings per share in­creased 71 per­cent to 411c com­pared with 241c. Fa­mous Brands has a port­fo­lio of 30 brands rep­re­sented by a fran­chise net­work of 2 626 restau­rants across South Africa, the rest of Africa, the Mid­dle East and the UK. – Ni­cola Maw­son, go to www.bus­rep.co.za.

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