Thursday 7th April 2011 |
Text too small? |
Restaurant Brands recorded a 26% rise to $25.1 million in full year net profit, excluding non-trading items, with most of the rise due to good performance by the KFC brand.
For the year to February 28 the company had a 2.1% rise in revenue to $324.9 million, with same store sales up 2.4%.
A final fully imputed dividend of 10c per share is to be paid, making a full year dividend of 17cps, up 4.5cps on the year before.
KFC sales were up 5.6% to $235.8 million, and up 4.4% on a same store basis, with earnings before interest, tax, depreciation and amortisation (ebitda) up 12.7% to $52.1 million.
At Pizza Hut sales fell 4.9% to $59.3 million, with the company having nine fewer stores, while ebitda lifted 4.3% to $5.6 million.
Starbucks Coffee sales fell 3.8% to $29.3 million, although up 0.8% on a same store basis, with ebitda up 27.3% to $4.1 million.
While Restaurant Brands had its best ever trading profit in the 2010/11 financial year, the latter half of the year saw a deterioration in trading conditions with a much softer retail environment, the company said.
The marketplace would remain tough in the current financial year, with strong competition for an increasingly scarce consumer dollar. Some improvement was expected during the year, particularly with the Rugby World Cup at the start of the third quarter of the financial year.
Restaurant Brands' bottom line profit was up 24.4% to $24.3 million.
The company's shares were up 2c in early trading to $2.39.
NZPA
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes