Restaurant Brands forecasts 10% growth in FY2020

Wed, 16 Oct 2019

Restaurant Brands New Zealand said it anticipates net profit after tax to be at least 10 percent higher next year as it continues to roll out new stores and look at buying others. The fast-food operator has seen margins improve at its local KFC stores, which account for half of New Zealand revenues, but shrink at its Pizza Hut chain. Net profit after tax for the 28 weeks ended Sept. 9 was $20 million, which is 2 percent lower than the first half of 2019. The company says profit was adversely impacted by $2.9 million due to new account...

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