Aust KFC sales help lift franchisor profit

Restaurant Brands’ first-half underlying profit has risen 14.4 per cent to $NZ25 million ($A20.3 million), helped by a jump in earnings from the fast food franchisor’s Australian KFC stores.

Sales from Restaurant Brands’ 61 Australian KFC outlets rose 4.2 per cent to $A99.5 million and their earnings rose 5.7 per cent, which the company says was in part due to store upgrades and digital channels.

The firm was hit by a downturn at its NZ Pizza Hut restaurants due to competition from other stores and food delivery services but, once one-off items and the effect of changed accounting standards have been stripped out, Restaurant Brands said it had performed strongly and expected that to continue through the remainder of FY20.

Source link Finance News Australia

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