LEGAL | Staff Reporter, Australia

Collins Foods reports stronger net profit due to increase of KFC stores

The company's Australian KFC network consists of over 220 sites.

Collins Foods has announced a 16% increase in full-year profit due to the addition of new stores to its large network of KFC stores.

The group - Australia's biggest KFC franchisee - reported their net profit rose to $32.5 million for the financial year ending on April 29, 2018, from $28 million a year earlier due to a 21.7% revenue jump to $770.9 million.

“We successfully completed the acquisition of 25 restaurants during the financial year while continuing to drive same-store sales growth across the network. Our integrations are progressing well, and our new restaurants have given the Group greater geographic diversity and scale advantages to continue driving earnings growth,” chief executive Graham Maxwell said in a statement.

Collins Foods now operates over 220 KFC stores in Australia.

Aside from its KFC franchises, Collins Foods also operates 14 Sizzler restaurants around the country as well as 73 Sizzlers stores across Asia.

It also operates one Taco Bell in Queensland, with plans to open more sites over the next 12 months.

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