Group Net Profit after Tax was $26.0 million (24.1 cents per share), up $1.9 million (+7.8%), on prior year. Net Profit after Tax (excluding non-trading items) was $30.6 million (28.4 cents per share), up 26.3% on prior year.
Total Group Store Sales were $497.2 million, up $109.6 million (+28.3%) on prior year, primarily because of the contribution from the KFC business in Australia, but also assisted by continued strong growth from KFC New Zealand.
New Zealand operations continued to perform well, delivering total sales of $400 million and a store EBITDA of $71.2 million of the $86.2 million reported for the group.
With the settlement of the KFC Australian purchase in April 2016, Australian operations contributed sales of $97.2 million and store EBITDA of $15.0 million for the 10 month period.
Operating cash flows were $47.9 million, up $3.6 million; however investing cash outflows increased from $15.3 million to $79.0 million with the purchase of the Australian business.
On 26 October 2016 the company entered into an agreement to acquire Pacific Island Restaurants Inc (“PIR”), the sole Pizza Hut and Taco Bell operator in Hawaii and Guam with 82 stores. The acquisition is expected to deliver an additional $180 million in annual revenues.
A final fully imputed dividend of 13.5 cents per share will be paid on 23 June, making a full year dividend of 23.0 cents (up 9.5% on the previous year).
Read the full report here - Results Announcements
Restaurant Brands 2017 Annual Result
19 April 2017 at 6:15:00 pm