'Game of two halves': Restaurant Brands' shares marginally down after big profit fall

Restaurant Brands operates 109 KFCs in New Zealand. (Image: Getty)

Mon, 26 Feb 2024

Inflation continues to hurt Restaurant Brands, with higher costs offsetting increasing sales across the company's major fast-food franchises, KFC, Pizza Hut, Carl’s Jr and Taco Bell.Despite record-high sales of $1.32 billion, the company posted net profit after tax (npat) of $16.3 million – a touch above guidance but still a 49.3% decline on last year.The shares fell about 1.15% on the news and last traded at $3.45.Margins in all regions – New Zealand, Australia, Hawaii and California – were hit b...

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