Philippa Larkin philippa.larkin@inl.co.za FAMOUS Brands, Africa’s largest branded food services franchisor, warned on Friday in a market update that the restaurant industry across the markets Famous Brand operated in would remain under severe pressure for the balance of the financial year.
The share price on Friday slid 1.25 percent to R56.24.
Famous Brands, the owner of brands such as Steers, Mugg & Bean, Wimpy and Debonairs Pizza, with signature brands including Tasha, Mythos and Lupa Osteria, said the South African lockdown restrictions would remain a major constraint on the group’s performance and results while its Signature brands portfolio would continue to experience acute stress.
“We remain confident that we are well positioned for the future,” it said, adding that its three-year strategic road map remained relevant.
The third wave…