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  • Finweek - English

    Simon’s stock tips

    Jun 25, 2021 5 minutes
    By Simon Brown

    FAMOUS BRANDS

    Famous brands hanging on

    amous Brands’** financial results for the year ended February and released on 31 May, were a horror show with the only glimmer of good news being that the UK venture, GBK, is over and won’t cost any more cash. The dividend will likely remain suspended for another two years as they pay down debt. Operating margins collapsed but will recover quickly as the fixed-cost nature of their businesses meant markedly reduced revenue due to hard lockdowns while fixed costs remained in place. Earlier this year I was concerned about the impact of a third wave of Covid-19 cases and that it could lead to new lockdowns, but the recent announcement from the president shows a soft touch. But lockdown fatigue means a lighter lockdown level now

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