Collins Foods hit by Sizzler writedown
Collins Foods has suffered a $10 million loss following a more than $37 million writedown to its Sizzler brand.
The company, which also owns more than 170 KFC restaurants in Australia, made a $10.4 million loss for the year to March 3, compared to a $14 million profit a year ago.
The result was weighed down by a $37.5 writedown to the goodwill of its Sizzler brand.
But revenue was up almost 30 per cent and underlying profit, which excludes the writedown, was up 37 per cent to $24.6 million.