Collins Foods Limited
(ASX:CKF) has announced its net profit attributable to members dropped 3.9 per cent to $29 million for the financial year ending 30 April 2017.
The restaurant chain operator saw a 10.3 per cent uptick in revenue to $633.6 million, following an increase in KFC same store sales, and seven new restaurant openings.
Meantime, the company’s statutory EBITDA jumped 5 per cent to $78.1 million.
The company also declared a fully franked final dividend of 9 cents per ordinary share, which is a 12.5 per cent rise from the prior corresponding period. The dividend is payable on 20 July 2017.
Meantime Collins Foods also announced it entered into a agreement to acquire 28 KFC restaurants for $110.02 million. The acquisition and associated equity raising costs will be funded via a $44.1 million Entitlement Offer and $69.3 million from debt facilities.
Shares in Collins Foods Limited
(ASX:CKF) are in a trading halt.
