Restaurant Brands New Zealand’s net profit surged 62.6 per cent to $26.5 million last year, thanks to better sales in New Zealand and Hawaii.
The group’s sales rose 5.4 per cent to $1.39 billion while earnings before interest, taxes, depreciation, and amortisation (EBITDA) climbed 8.9 per cent to $194.3 million.
New Zealand same-store sales increased 4.6 per cent, with KFC achieving record sales. During the year, the New Zealand division opened eight new company-owned stores while independent operators opened 18 new stores.
In Hawaii, same-store sales jumped 4.2 per cent, with Taco Bell continuing to deliver strong sales while Pizza Hut fell short of expectations.
Meanwhile, same-store sales in Australia declined 3.3 per cent as high interest rates, inflation, and rising occupancy costs continued to dampen consumer sentiment.
Similarly, California same-store sales slid 3.9 per cent due to elevated cost of living resulting in a shift in consumer behaviour. The company shut down four stores in California during the year.
“We remain optimistic about the group’s outlook,” said Jose Pares, chairman of Restaurant Brands.
“While the QSR sector continues to face challenges, our strategic investments and region-specific measures are supporting margin recovery, strengthening our brands, and positioning the Group and its investors for sustainable growth.”
