Restaurant Brands sees ongoing volatility, cans quarterly updates

KFC is one of Restaurant Brands' key operations. (Image: Restaurant Brands)

Fri, 24 May 2024

Restaurant Brands has told shareholders it is 12 to 18 months away from recovering margins it had in the 2022 calendar year, and has canned quarterly sales reporting due to “ongoing volatility”.The fast-food operator posted earnings before interest and tax (ebit) at 7% of sales in 2022, but in 2023 it fell to 5.6%.Yearly sales had hit a record $1.32 billion, but net profit after tax was down to $16.3 million, which was above guidance but a 49.3% decline on last year.The operator of KFC, Pizza Hut and Taco Bell in New Zealand and som...

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