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Famous Brands fiscal H1 profit climbs 16.8% YOY

Famous Brands Ltd said its normalized net income for the fiscal first half ended Aug. 31 was 1.82 rand per share, an increase of 16.5% from 1.56 rand per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 181.5 million rand, an increase of 16.8% from 155.4 million rand in the year-earlier period.

Total revenue grew 14.1% on an annual basis to 1.57 billion rand from 1.38 billion rand, and total operating expenses climbed 12.9% on an annual basis to 1.27 billion rand from 1.12 billion rand.

Reported net income rose 18.3% year over year to 210.8 million rand, or 2.12 rand per share, from 178.2 million rand, or 1.79 rand per share.

As of Oct. 27, US$1 was equivalent to 10.94 rand.