Restaurant Brands announces full year results for year ended 2 March 2015

16/04/2015 3:24:12 PM

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Group Net Profit after Tax was $23.8 million (24.3 cents per share), up $3.9 million (+19.4%) on prior year. Net Profit after Tax (excluding non-trading items) was $22.5 million (23.0 cents per share), also up 19.4% on prior year.

Total Group Store Sales were $359.5 million, up $30.3 million (+9.2%) on prior year with continued strong growth from KFC and store builds and acquisitions in the Carl’s Jr. brand.

KFC sales continued to grow to a new high of $265 million despite competitive market conditions.

Pizza Hut and Starbucks Coffee delivered solid same store sales growth, up 6.3% and 5.1% respectively.

The roll out of the new Carl’s Jr. brand continued with the construction of three new stores and the acquisition in December 2014 of seven Carl’s Jr. stores owned by Forsgren NZ Limited, bringing total store numbers to 18.

Total store EBITDA of $61.5 million was up $8.0 million (+15.0%) on the prior year mainly driven by the strong performance by KFC.

Operating cash flows were $36.6 million, up $4.4 million on prior year, driven by higher earnings. Investing cash flows were also substantially up on prior year, reflecting strong levels of store reinvestment and the acquisition of seven Carl’s Jr. stores.

A final fully imputed dividend of 11.5 cents per share will be paid on 26 June, making a full year dividend of 19.0 cents (up 15.2% on the previous year).