Restaurant Brands Half Year Results September 2019.

16/10/2019 8:05:06 PM

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Total Group sales were $442.6 million, up $11.6 million on the previous half year and up $24.6 million (+5.7%) on a like-for-like basis (excluding the Starbucks Coffee sales in 1H 2019). The bulk of the increase is attributable to KFC in New Zealand and Taco Bell in Hawaii.

 Net Profit after Tax for the 28 weeks ended 9 September 2019 (1H 2020) was $20.0 million (16.0 cents per share), down $0.4 million on the prior period (1H 2019). Net profit after tax was adversely impacted $2.9 million by the adoption of the new lease accounting standard NZ IFRS 16.

 Net Profit after tax (excluding non-trading items and the effect of NZ IFRS 16) was $25.0 million (20.0 cents per share), up $3.2 million or +14.4% on the prior period.

Combined brand EBITDA before G&A was up $3.4 million to $72.6 million with the New Zealand businesses delivering an increase of $1.8 million, despite the loss of the Starbucks Coffee contribution of $2.1 million due to the sale of the business in October 2018. A further $1.3 million was generated in Hawaii with a strong Taco Bell performance.

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