KFC, Taco Bell assist Restaurant Brands in tripling profit during first half
New KFC and Taco Bell stores scheduled for Australia and New Zealand in the second half.
New Zealand-headquartered Restaurant Brands tripled its profit during the first half, with group NPAT reaching $33 million from last year’s $10.7 million - equivalent to a 208% rise.
The NZX-listed operator reported a 41% jump in group sales to $516 million, courtesy of positive same-store sales across Australia, New Zealand, Hawaii, and their newly-added business in California.
Its Australian operations grew 24.1% during the half to NZ$117 million in sales and $5.3 million in operating profit, up by 106%.
“With continued investment in existing stores in the portfolio and a particular emphasis on driving workplace safety, operational excellence and digital innovation that enhances customer experience, the business has succeeded in mitigating some of the impact of the current Covid-19 restrictions,” Restaurant Brands said.
Sales in New Zealand were up 37% to NZ$239 million whilst EBITDA jumped 28.3% to NZ$43.1 million. Operating profit rose by 68.5% to NZ$28.7 million.
Meanwhile in Hawaii, sales were up 5.7% to US$72.7 million, whilst its new operations in California brought in US$55.2 million.
New KFC and Taco Bell stores scheduled for Australia and New Zealand in the second half, the company added.
