Restaurant Brands full year sales up 7.2%

Company News

by Rachael Jones

Restaurant Brands’ (ASX:RBD) full year sales are up 7.2 per cent to $794.0 million with strong growth in overseas operations.

Australian KFC outlets produced sales of $184.4 million, up 27.8 per cent on a total basis with a full year’s trading from last year’s acquisitions, and 4.7 per cent on a same store basis.

New Zealand operations generated sales of $419.8 million, down 0.4 per cent on a total basis mainly as a result of the sale of Starbucks Coffee in October 2018, and up 2.7 per cent on a same store basis.

Total company store numbers were down by 31 on the equivalent period last year to 283, primarily because of the sale of the 22 Starbucks Coffee stores in October and the sale of eight New Zealand Pizza Hut stores to independent franchisees.

Shares in Restaurant Brands’ (ASX:RBD) are flat at $7.33.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.