Restaurant Brands reports 2.7% quarterly sales increase

Restaurant Brands has reported a 2.7% increase in sales for the fourth quarter of the 2023 financial year.

Sales for the quarter reached $341.1 million, up $9.1m from the same period the previous year.

The growth in sales was driven by strong performance in the New Zealand market, where fourth quarter sales were up 8.3% to $151.4m.

However, sales growth in Australia and California slowed down due to cost of living pressures.

Total sales for the year amounted to $1.32 billion, a 6.7% increase from the prior year.

The company's annual trading results will be released on Feb 26 2024.

Despite inflationary pressures, Restaurant Brands expects its full year net profit after tax to be within the guidance range of $12m to $16m.