19 Oct 2017

Fast food business sees profit growth

2:20 pm on 19 October 2017

Restaurant Brands has recorded a strong first half result, helped by the addition of its new Hawaii-based business and expansion of its KFC restaurants Australia.

A KFC outlet

Photo: RNZ / Diego Opatowski

The operator of KFC, Pizza Hut, Starbucks, Carl's Jr and Taco Bell increased net profit by more than 41 percent to $19.1 million to 11 September over the year earlier.

There was a 50 percent increase in group revenue to $399.9m.

It said the rise was mostly a result of the contributions from Hawaii and Australian operations which were acquired part-way through the first half of the reporting year.

The company said the New Zealand business was also strong with revenue up 7 percent on the year earlier, driven mainly by KFC.

Restaurant Brands said its recent acquisitions increased debt to $133.1m compared with last year's $46.5m.

Directors expect full-year net profit to be about $40m.

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