Restaurant Brands New Zealand : ' Half Year Announcement 2017

Directors are pleased to report that Restaurant Brands New Zealand Limited (RBD) has produced a first half unaudited net profit after tax for the 28 weeks ended 11 September 2017 (1H 2018) of $19.1 million (15.5 cents per share). This compares with a reported NPAT of $13.5 million (13.3 cents per share) for the prior half year.

After allowing for the impact of non-trading items the underlying NPAT was $20.2 million (16.4 cents per share), up $4.2 million or +26.5% on prior year.

Total brand sales for the Group were $386.1 million, up $129.9 million or +50.7% on 1H 2017 with the benefit of $88.9 million in sales from the recent Hawaiian acquisition (of PIR) effective from 7 March 2017, and strong performance in the KFC operations in Australia and New Zealand which delivered increased sales of $28.3 million and $12.8 million, respectively. Total operating revenue was $399.9 million, up $133.1 million on prior year.

Combined brand EBITDA at $63.0 million was $17.7 million (+39.1%) up on prior year, largely because of a $12.7 million contribution from the newly acquired Hawaiian operations.

The Board is pleased with the progress and integration of the three business units for the first six months of this new financial year, following completion of the Hawaiian business purchase in March 2017.

Restaurant Brands' store numbers at balance date totalled 297, comprising 168 in New Zealand, 82 in Hawaii and 47stores in Australia.