Restaurant Brands sees strong growth in New Zealand

Restaurant Brands, the owner of KFC, Pizza Hut, Taco Bell, and Carl's Jr, has reported strong top-line growth in New Zealand for the 2023 financial year.

Total sales in the New Zealand division reached $626 million, up 9.5% from the previous year.

Same-store sales grew by 4.6%, driven by strong transaction growth.

Store ebitda increased by 29% to $104m, with improved margins.

In Australia, however, the company faced challenges, with total sales of A$284m, down 0.8% from the previous year.

Same-store sales declined by 3.3%.

The Hawaii division delivered growth, with total sales of US$170m, up 6.3%.

In California, total sales were US$107m, down 3.2%.

Restaurant Brands opened 27 new stores and refurbished 40 stores in FY24.

Digital sales accounted for 40% of total transactions.

The company plans to focus on driving revenue and margin gains, expansion into high-growth locations, and unlocking further cost savings.