Profit increase predicted at Restaurant Brands
The corporate franchise behind New Zealand’s KFC, Pizza Hut and Carl’s Jr and Starbucks Coffees outlets has forecast a 7.8 percent rise in net profit after tax.
Restaurant Brands said its current financial year profit would be about $28-$30m.
Same stores sales have increased by just over five percent, according to Inside Retail.
And the company’s expansion into Australia is going to boost business even further according to Russel Creedy, the hospitality group’s CEO.
Restaurant Brands bought 42 KFC stores in New South Wales earlier this year, and is eyeing up further expansion through the purchase of individual stores as well as a possible major acquisition.
Radionz.co.nz reports the company has the financial capacity to fund further expansion through cash and debt facilities.
Restaurant Brands now has 173 stores in New Zealand.