Restaurant Brands, which operates the local Pizza Hut, KFC and Starbucks brands, reported a 27 per cent fall in annual profit due to the Christchurch earthquakes and fewer Pizza Hut stores as it offloaded unprofitable outlets.

Net profit fell to $18.4 million in the 12 months ended February 29 from $25.1 million in the same period last year, the Auckland-based company said in a statement.

Sales decreased 4.9 per cent to $308.9 million with Restaurant Brands blaming the impact of the Christchurch earthquake and the sell down of its Pizza Hut stores for some $6 million in lost revenue.

"Whilst down on what was a stellar year last year, the underlying performance of the company remains strong," the company said.

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"Directors believe that current levels of profitability will be maintained in the face of continuing tight trading conditions and soft retail environment through a continued focus on efficiency and cost reductions, together with new marketing initiatives."

Earlier this month Restaurant Brands flagged lower annual sales from the closure of earthquake-damaged stores and the sale of Pizza Hut outlets, though same-store sales were only down 2.5 per cent.

Sales at KFC, traditionally the company's strongest brand, reached a new high rising 0.2 per cent to $236.3 million, though earnings before interest, tax, depreciation and amortisation dropped 13 per cent to $45.6 million as its margins came under pressure.

Starbucks Coffee suffered more than the other two brands as a result of the Christchurch quakes with three of its four Christchurch stores were closed and unlikely to reopen. That led to a 9.8 per cent decline in sales to $26.5 million, and an 8.8 per cent fall in EBITDA to $3.7 million.

The coffee-house chain also closed two stores in Newmarket and Botany during the period due to respective lease ends.

Pizza Hut sales dropped 23 per cent to $45.5 million and EBITDA sank 63 per cent to $2.1 million as 13 stores were sold to independent franchisees.

"The strategy remains to sell stores with smaller sales volumes, particularly in regional areas where an independent franchisee can make a success of the business on a smaller sales base with a more personal approach to running the store," the company said.

In December, the company announced it will roll out a chain of Carl's Jr. restaurants after striking a deal with US own CKE Restaurants. The new brand will see three of the four stores opening in the second half of the year.

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The board declared a dividend of 9.5 cents per share up from 4.1 cents apiece a year earlier. That takes the full-year payout to 16 cents per share, down from 17 cents in 2011.

The stock climbed 3.8 per cent to $1.93 in trading today, and has shed 11 per cent this year.