Famous Brands released a trading update on Friday warning that it is expecting a basic loss per share of up to R16.89. The company says the R1.3 billion impairment means that GBK UK has now been impaired in full at Famous Brands Group level. Famous Brands is due to present its financial results for the six months ended 31 August on 26 October. In the 2019 financial year, Famous Brands impaired GBK by R874 million after recognising a R373 million impairment a year earlier. On Friday, Famous Brands said the R1.3 billion impairment means that GBK UK has now been impaired in full at Famous Brands Group level.

Source: News 24 September 25, 2020 11:03 UTC