Restaurant Brands has reported a solid increase in total store sales for the 2023 financial year, driven by strong customer growth.
In the New Zealand business, total store sales reached $571.8 million, up 8.1% from the previous year, while positive same store sales growth of 6.2% was also achieved.
The KFC and Pizza Hut brands in New Zealand delivered their strongest sales in their respective histories.
Meanwhile, the Australian business saw total sales of $286.6m, a year-on-year increase of $27.7m, and the Hawaii division maintained strong profitability.
However, the company warned that inflation and cost pressures are expected to continue, which may impact EBITDA margins in the near term.
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