NZ stocks: Restaurant Brands scrutinised

By PAUL PANCKHURST


Analysts and brokers will have another sniff this week at Restaurant Brands - checking on the flavour of the fast food company's sales.

It is just under three weeks since the company's share price tumbled after the announcement of a profit warning.

Restaurant Brands is due to announce its third-quarter sales tomorrow.

On November 18, Restaurant Brands flagged that profit for the second half of the financial year would be hit by a downturn in sales at KFC.

The company's directors said the problem was expected to slash profit for the period by $2 million.

It was "a short-term issue" - not a long-term problem.

The profit warning came seven weeks after the company had told the market that improving sales would lead to a second-half result in line with the same period last year.

Elsewhere in the market, Richina Pacific holds a special meeting on Wednesday for shareholders to approve an exit from the New Zealand companies register and incorporation in Bermuda.