Collins Foods profits jump 33.6%
Collins Foods grew its net profit after tax 33.6% to $14.3 million, according to its financial results for the half year ended 18 October 2015.
According to the results, the company's EBITDA grew 19.8%, while revenues rose 5.1% to $269.7 million. KFC same store sales were up 5.2%, offsetting Sizzler's same store sales falling 12%.
Collins Foods' Chief Executive Officer Graham Maxwell said, "We are very pleased with the overall performance of the Collins Foods business, particularly the ongoing strength of our KFC businesses in both Queensland and Western Australia / Northern Territory."
"They have achieved strong same store sales growth and continue to deliver improved margins resulting from our ongoing focus on operational performance."
The company opened three additional KFC restaurants during the first half of the year, two of which were built in Western Australia.
"We continue to develop our network of KFC restaurants within the territories that we operate whilst at the same time investing in our existing restaurants to keep the look and feel contemporary and enticing for our customers," Maxwell said.
Maxwell said that Collins Foods are focusing on maximizing operational performance, developing a solid growth platform and building further strength and resilience within the business.
