Restaurant Brands results have been boosted by strong sales at KFC stores. Photo / Michael Craig
Restaurant Brands New Zealand, the fast-food retailer, lifted fourth quarter sales 37 per cent to $121.6 million, bolstered by gains from its Australian KFC stores.
In the 12 weeks to February 27, the company's sales rose to $121.6m, up $32.7m from the equivalent period a year earlier. Some $27m of
that came from the 42 KFC stores in New South Wales Restaurant Brands bought in April 2016. The company's New Zealand sales rose 6.4 per cent to $94.5m in the fourth quarter, while same-store sales, which are those for outlets open at least 12 months, increased 6 per cent to $91.2m.
The quarterly gain lifted annual sales 28 per cent to $497.2m.
On Wednesday, Restaurant Brands announced plans to split its corporate structure into three geographical divisions of New Zealand, Australia and Hawaii, as it awaits settlement on its acquisition of Pacific Island Restaurants, the largest fast-food operator in the US state with 82 Taco Bell and Pizza Hut stores.
In New Zealand, KFC sales rose 9 per cent in the fourth quarter to $70.7m, with a 4.9 per cent gain on an annual basis for sales of $296.5m. Same-store sales rose 7.1 per cent in the quarter, with 92 stores open, one more than a year ago.
