Restaurant Brands flags strong first quarter same store sales growth

Company News

by Anna Napoli

Restaurant Brands (ASX:RBD) has announced total sales for the first quarter of the financial year (12 weeks to 20 May 2019) were $182.8 million, an increase of $2.8 million or 1.6 per cent on the year earlier period.

Reported net profit after tax rose 0.8 per cent to $35.7 million.

Each of its operating divisions of New Zealand, Australia and Hawaii produced solid same store sales growth of 4.9 per cent, 6.0 per cent and 8.4 per cent respectively.

Combined brand earnings EBITDA increased by 5.4 per cent to a new high of $129.2 million, primarily driven by the full year impact of the Australian stores acquired during FY18.

Looking forward, the company says with a consistent performance from the existing store network, the benefit of new store builds and a stable economic environment, directors expect the Group will deliver a NPAT (excluding non-trading items) result for the new financial year of 10 per cent above current year’s results.

Shares in Restaurant Brands (ASX: RBD) last traded at $8.03 on 14th of May.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.