Restaurant Brands has reported a record high in total group store sales for the 2023 financial year, reaching $1.32 billion.
This represents a 6.7% increase of $83 million compared to the previous year.
The company's four operating divisions all saw growth in terms of New Zealand dollars.
However, net profit after tax was down $15.8m from the prior year, amounting to $16.3m.
Restaurant Brands attributed the decrease in profit to inflationary pressures on ingredients and wages, as well as underperformance in California and New Zealand.
The group's store EBITDA for the period was $178.4m, a slight decline of 0.9%.
Directors have decided not to declare a dividend payment at this time.
The company noted that cost pressures persist, but the implementation of price increases and cost control measures has led to margin gains in the second half of the financial year.
See more
