Restaurant Brands NZ announce slight increase to annual net profit

The New Zealand company which operates KFC, Pizza Hut, Starbucks, and Carl's Jr reported its full year financial results ended February 29, 2016.

According to the results, the group's net profit after tax increased 1% to $24.1 million on prior year. Net Profit after Tax (excluding non-trading items) was $24.2 million, up 7.5%. On a like-for-like basis, adjusting for the impact of the 52 vs 53 week comparison and the LTI scheme, Net Profit After Tax (excluding non-trading items) was up $2.8 million or 12.6%.

Total Group Store Sales were $387.6 million, up $28.0 million (+7.8%) on prior year with continued strong growth from KFC and the impact of acquisitions in the Carl's Jr. brand.

Restaurant Brands announced that KFC continued to lead performance with sales continuing to grow to a new high of $282.5 million.

Total store EBITDA of $66.9 million was up $5.4 million (+8.7%) on the prior year, again driven by a very strong performance by KFC.

Operating cash flows were $44.3 million, up $7.8 million and debt was reduced to $12.7 million.

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