Branded food services franchisor Famous Brands has reported an 8% increase in revenue to R8-billion for the financial year ended February 29, although a 6% decrease in profit to R812-million and a 1.5% profit margin contraction from 11.6% to 10.1% dampened results. Despite the group’s carefully managed cost base, the operating profit margins were negatively impacted on by input cost pressures and increases in overheads, namely electricity, water, diesel, repairs, maintenance and employee costs.
Though the avian flu sweeping SA has not yet hit the Eastern Cape, stores are already feeling the knock-on effect of restricted supplies of eggs and chickens and are being forced to pass on price increases to consumers.
That restaurants are relocating, or looking at relocating, from what was once a thriving, bustling hub popular with students, visitors to the city and residents, is a sad indictment of the level of crime in Richmond Hill.
The once-trendy suburb of Richmond Hill has been rocked by a sharp increase in crime over the past three months, resulting in popular eateries moving out of what used to be a favoured hub for foodies.
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