Triple Profits in First Half for Restaurant Brands

Seeing a 208 percent growth, quick service group Restaurant Brands tripled profit in its first half, with group NPAT hitting $34 million compared to $11 million in the same period last financial year.

Thanks to strong same-store sales across New Zealand, Australia and Hawaii, as well as the addition of its new Californian arm, group sales rose 41 percent to $539 million. In New Zealand, the firm’s home market, sales grew 37 percent to $239 million while EBITDA jumped 28.3 percent to $43.1 million. Operating profit was $28.7 million, up 68.5 percent.

According to the Group, the result was led by another strong performance from KFC combined with Carl’s Jr., where sales continue to growth through both the delivery and store channels.

Restaurant Brands, which runs KFC in NSW and Taco Bell in Australia, saw its Australian operations grow 24.1 percent during the half to AU$117 million in sales and AU$5.3 million in operating profit, up 106 percent. The business recognised, however, that its Australian operations continue to suffer under lockdown, with state-wide restrictions regularly impacting dine-in sales across its network of stores – though an initial investment into home delivery and mobile ordering offsetting this somewhat.

Looking forward, Restaurant Brands is looking to continue to grow store numbers. New stores are planned to roll out across all markets, with new KFC and Taco Bell stores scheduled for Australia and New Zealand in the second half.