Restaurant Brands re-signs KFC, Pizza Hut

Restaurant Brands New Zealand has signed a new KFC master franchise agreement with US company Yum, the franchiser of its KFC and Pizza Hut brands. The fast food company said trading was tight, putting pressure on margins and it would be reviewing its profit guidance shortly.

Chairman Ted van Arkel said a new agreement and early franchise renewal gave the company increased certainty.

"Current trading conditions for the business continues to be tight, especially in the pizza category."