Total sales rose to $96.6 million in the 12 weeks ended May 23 from $89.1 million a year earlier, of which the 42 Australian KFC stores contributed $8.1 million. Photo / Supplied
Restaurant Brands New Zealand lifted first-quarter sales 8.5 percent as the acquisition of New South Wales' biggest KFC franchise bolstered revenue in the period.
Total sales rose to $96.6 million in the 12 weeks ended May 23 from $89.1 million a year earlier, of which the 42 Australian KFC stores
contributed $8.1 million, the Auckland-based company said in a statement.
Stripping that out, revenue in New Zealand was down 0.6 percent due to the closure of nine Pizza Hut stores, one Starbucks Coffee outlet and weak sales in the Carl's Jr chain.
On a same-store basis, sales rose 0.4 percent with gains in Restaurant Brands' KFC, Pizza Hut and Starbucks franchises offsetting a 14 percent drop in revenue at Carl's Jr, which enjoyed rapid growth since it joined the group in 2014.
Restaurant Brands carried out a major expansion in March, making its first foray across the Tasman by buying QSR Pty, the biggest KFC franchisee in NSW, with 42 stores, for A$82.4 million in cash and scrip.
