14 Apr 2016

Restaurant Brands supersizes full-year profit

11:43 am on 14 April 2016

Listed fast food operator Restaurant Brands has posted a record full-year profit on the back of stronger sales, and is picking double digit growth in the next 12 months.

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Record full-year profit for Restaurant Brands. Photo: AFP

The company reported a net profit of $24.1 million for the year ended February, compared with $23.8m a year earlier - in line with market expectations.

Sales rose eight percent to nearly $388m, dominated by KFC which made up nearly two thirds of the group total.

The Starbucks coffee chain and fledgling Carl's Junior burger stores reported improved sales, but there was a drop for Pizza Hut, which the company has been franchising to independent operators.

The group's same store sales measure rose 5.3 percent on a year earlier, which was a slightly slower rate of growth.

Restaurant Brands said it expected a full-year profit for the new trading year of between $28m and $30m, reflecting lower capital spending and the contribution of the 42 KFC stores in New South Wales, which it had just bought for $A82.4m dollars.

The company declared a final dividend of 12.5 cents a share.

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