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Famous Brands fiscal H2 profit climbs 14.7% YOY

Famous Brands Ltd said its normalized net income for the fiscal second half ended Feb. 28 was 2.22 rand per share, an increase of 13.5% from 1.96 rand per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 224.2 million rand, a gain of 14.7% from 195.5 million rand in the prior-year period.

Total revenue climbed 18.1% year over year to 1.71 billion rand from 1.45 billion rand, and total operating expenses climbed 18.1% year over year to 1.34 billion rand from 1.14 billion rand.

Reported net income rose 14.8% on an annual basis to 258.4 million rand, or 2.56 rand per share, from 225.0 million rand, or 2.25 rand per share.

For the year, the company's normalized net income totaled 4.05 rand per share, a gain of 14.9% from 3.52 rand per share in the prior year.

Normalized net income was 405.6 million rand, an increase of 15.6% from 350.8 million rand in the prior year.

Full-year total revenue grew 16.2% from the prior-year period to 3.28 billion rand from 2.83 billion rand, and total operating expenses rose 15.5% year over year to 2.61 billion rand from 2.26 billion rand.

The company said reported net income grew 16.4% year over year to 469.1 million rand, or 4.68 rand per share, in the full year, from 403.1 million rand, or 4.05 rand per share.

As of May 22, US$1 was equivalent to 11.87 rand.