Higher sales in New Zealand and Hawaii drove a significant increase in profit for listed fast-food chain operator Restaurant Brands during the first half.
The company’s net income soared 472.7 per cent to $12.6 million as group store sales grew 7.3 per cent to $687.2 million.
New Zealand sales soared 13.7 per cent to $309.6 million, aided by the development of new KFC, Taco Bell and Carl’s Jr stores.
Hawaii sales rose 6.3 per cent to US$84.3 million, thanks to the solid performance of Taco Bell and steady Pizza Hut sales.
Australian sales fell 0.5 per cent to A$139.6 million, while California sales declined 3.4 per cent to US$53.6 million, both reflecting cost of living pressures.
After adding a net four stores, the group ended the period with 506.
“Initiatives including cost control measures, operational efficiencies, and price programmes continue to deliver value for money for customers and to protect brand health, maintain customer loyalty, and stay competitive,” said Jose Pares, Restaurant Brands chairman.
“Our brand reach is growing, with the opening of new stores across all brands, including small-format delivery, carry-out and drive-through concepts to meet the changing needs of our customers. We also continue to recruit motivated business owners to open franchised stores for our award-winning Pizza Hut network.”