Restaurant Brands Full Year Results Announcement. Key Points:

• Total Group store sales hit a record high of $1,322.2 million, an increase of $83.2 million (6.7%) on FY22, with all four operating divisions showing growth in terms of $NZ.

• The reported NPAT of $16.3 million for the year was down $15.8 million on the prior year. This was primarily driven by inflationary impact experienced in the first half of the year.

• The implementation of a strategic programme of price increases and cost control measures delivered margin gains in the second half of FY23. The Group is starting to see steady signs of recovery, notwithstanding the continuing cost pressures.

• Total store EBITDA for the period was $178.4 million. This was down 0.9% on the previous year.

• Total store numbers as at 31 December 2023 totalled 376, unchanged from 31 December 2022. Pizza Hut stores in New Zealand reached 124 (118 are operated by independent franchisees).

• At present, Directors have not deemed it appropriate to declare a dividend payment

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