Directors are pleased to report that Restaurant Brands New Zealand Limited (RBD) has produced a first half unaudited net profit after tax for the 28 weeks ended 12 September 2016 (1H 2017) of $13.5 million (13.3 cents per share). This compares with a reported NPAT of $13.4 million for the prior half year.
After allowing for the impact of non-trading items the underlying NPAT was $15.9 million (15.7 cents per share), up $2.8 million or +21.7% on prior year.
Total brand sales for the Group were $256.2 million, up $46.2 million or +22.0% on 1H 2016 with the benefit of $43.6 million in sales from the recent KFC acquisition (of QSR Pty Limited) in Australia with effect from 27 April 2016. New Zealand operations saw a strong performance from KFC (up $4.2 million) with newly built Carl’s Jr. stores assisting in delivering another $1.0 million in sales for that brand. Total operating revenue was $266.9 million, up $48.5 million on prior year.
Same store sales were up 1.4% (rolling over +6.7% last year) with KFC, Pizza Hut and Starbucks Coffee all showing growth.
Combined brand EBITDA at $45.3 million was $9.3 million (+26.0%) up on prior year, largely because of a $7.2 million contribution from the newly acquired Australian operations.
Restaurant Brands’ store numbers now total 215, comprising 173 in New Zealand and a further 42 stores in Australia.