Congrats, Australia Ate More Fried Chicken Than Last Year
Dual-listed fast-food franchise operator Restaurant Brands NZ says its Aussie fried chicken profits are on the rise, even as it cooks up a Tex-Mex expansion.
The Auckland-based company says third-quarter same-store sales at its Australian KFC outlets rose 2.4 per cent to $A33 million compared to the same period last year.
Restaurant Brands, which also added three Australian KFC stores in the three months to December 3 for a total 62, says total same-store year-to-date sales in Australia were up 3.8 per cent to $A100.1 million.
Total third-quarter sales at the company's 284 global fast-food stores was $NZ181.5 million ($A172.4 million), an increase of 4.7 per cent on the equivalent period last year.
This includes include KFC, Pizza Hut, Starbucks franchises in NZ, and Taco Bell and Pizza Hut restaurants in Hawaii.
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Restaurant Brands recently announced plans to bring 60 Taco Bell restaurants to Australia and New Zealand by 2024.
It follows a 50-store Taco Bell push from Brisbane-based Collins Foods.
Shares in Restaurant Brands were last trading on the ASX at $7.33, down from a June 2018 peak of $8.05.
Mexican investor Finaccess Capital currently has a 75 per cent takeover offer on the table for the company.