Restaurant Brands' sales jumped 16.9% for the fourth quarter ending Dec 31 – an increase of $330 million from the previous corresponding period.
The fast-food company saw sales recover from the impacts of the pandemic in New Zealand and Australia during 2021.
However, due to the inflationary pressures that are continuing to be felt worldwide, Restaurant Brands said it's still experiencing “significant cost inflation” across all its regions.
In response to the increased costs, the company was continuing to implement price increases wherever possible.
Fourth-quarter sales for the brand’s NZ region came to $139.8m – up 10.7% in total and 4.5% on a same-store basis.
Australia’s sales for the fourth quarter were NZ$76.9m (A$70.6m), which was a 13.5% increase.
Full-year sales across NZ and Australia rose 16% to NZ$1.24 billion, with the increase due to the inclusion of 17 new stores – bringing the total number of stores under the brand to 376 stores in total.
Sales for the fourth quarter in Hawaii were NZ$67.2m (US$40.4m), up 10.4% in total.
Restaurant Brands said Hawaii trading continued to be “strong” and the Hawaiian economy had improved with increased tourism over the past year.
California sales also saw a small increase of 5.7% to NZ$48.1m (US$29.m) in the fourth quarter.
Same-store sales were down on the year before, largely due to reduced Californian consumer spending in the face of high inflation levels and the absence of government stimulus payments.
The company plans to release its full-year annual trading results for the year ended Dec 31 on February 28.
