Fast food operator’s upsized Q1
The Auckland-based company said sales increased to $161.2 million in the 12 weeks ended May 22, from $96.6m in the equivalent period a year earlier.
New Zealand operations lifted sales 7.1 per cent to $94.8m, while Australia contributed $29.7m and its Hawaiian operations added $36.7m. On a same-store basis, sales rose 7.2 per cent.
New Zealand’s largest fast-food operator is expanding into new overseas markets. In April 2016 it expanded into KFC in Australia and in March 2017 bought the largest fast-food operator in Hawaii.
In New Zealand, the company’s 92 KFC stores lifted sales 8.4 per cent in the first quarter to $70.9m, while its 34 Pizza Hut stores increased sales 5.1 per cent to $9.7m, the 24 Starbucks Coffee stores lifted sales 2.3 per cent to $6.1m, and the 19 Carl’s Jr outlets increased sales 2 per cent to $8.1m.
The company sold one of its Pizza Hut stores to an independent franchisee in the period, taking the number of stores operated by independent franchisees to 59 out of a total network of 93 stores.
In Australia, the company acquired another five independent KFC franchise stores in the first quarter, taking its total KFC store numbers across the Tasman to 47. Its Hawaiian-based operations include 37 Taco Bell and 45 Pizza Hut stores.
The company’s shares advanced 1.1 per cent to $5.73.
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