Restaurant Brands New Zealand Limited (“RBD”) has today provided updated earnings guidance for the 2023 financial year, expecting NPAT to be in the range of $12 million to $16 million.
This is due to global inflationary pressures, particularly in regard to rising ingredient and wage costs, which is having a significant and ongoing impact on profits.
The company has implemented a strategic programme of price increases and cost control measures to relieve margin pressures, however, recovery in the second half is expected to be weaker than expected.
Q2 sales for the second quarter to 30 June 2023 increased to $331.6 million, up $22.1 million (+7.1%) over the equivalent period last year.
Sales growth was supported by the net inclusion of 10 new stores and the strengthening US dollar since the equivalent period last year.
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