Restaurant Brands announces full year result for year ended 29 February 2016

14/04/2016 11:43:43 AM

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Group Net Profit after Tax was $24.1 million (24.6 cents per share), up $0.2 million (+1.0%), on prior year. Net Profit after Tax (excluding non-trading items) was $24.2 million (24.7 cents per share), up 7.5% on prior year.

On a like-for-like basis, adjusting for the impact of the 52 vs 53 week comparison and the LTI scheme, Net Profit After Tax (excluding non-trading items) was up $2.8 million or 12.6%.

Total Group Store Sales were $387.6 million, up $28.0 million (+7.8%) on prior year with continued strong growth from KFC and the impact of acquisitions in the Carl's Jr. brand.

KFC continued to dominate performance with sales continuing to grow to a new high of $282.5 million.

Total store EBITDA of $66.9 million was up $5.4 million (+8.7%) on the prior year, again driven by a very strong performance by KFC.

Operating cash flows were $44.3 million, up $7.8 million and debt was reduced to $12.7 million.

After balance date the company entered into an agreement to acquire QSR Pty Limited, the largest KFC franchisee in New South Wales, Australia. The acquisition will result in an additional $A100 million in annual revenues and $A15 million in store EBITDA.

A final fully imputed dividen of 12.5 cents per share will be paid on 24 June, making a full year dividend of 21.0 cents (up 10.5% on the previous year.