LEGAL | Staff Reporter, Australia

Restaurant Brands' sales soar 49% in Q4

For the 12 months ended 26 February 2018, Restaurant Brands’ total sales were $740.8m, up 49% on the prior year.

Restaurant Brands’ chairman Ted van Arkel expressed the Board’s satisfaction with this result which was a further milestone towards the company’s $1 billion annual sales objective.

Restaurant Brands' total sales during the fourth quarter of the financial year were $181.3 million, an increase of 49.1% or $59.7m on the equivalent period last year.

The bulk of the quarterly increase ($39.4 million) came from the 37 Taco Bell and 45 Pizza Hut outlets in Hawaii, Guam and Saipan acquired in March 2017. A further $15.6 million came from newly-acquired KFC stores in Australia with $4.7m from New Zealand operations. The Group's same store sales for the quarter were up 5.1% with New Zealand operations up 4.5% and Australia up 6.8%.

Total company store numbers were up by 102 on the equivalent period last year to 314, primarily from the 82 store Hawaiian acquisition and a further 18 KFC stores acquired in Australia.

Restaurant Brands started the year with 42 KFC stores in New South Wales, Australia. During the first quarter the company acquired five KFC stores from independent franchises. Three independent franchise and eight Yum! KFC stores were acquired in the third quarter along with one new store opening. During the fourth quarter, an additional two Yum! KFC stores were acquired, bringing store numbers to 61. Full year sales for KFC Australia were $A139.5m, an increase of 50.9% on a total store basis and 4.9% on a same store basis.

The 61 stores contributed $A39.1m in total sales during the fourth quarter, up 2.4% on a same store basis.

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