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Restaurant Brands New Zealand Ltd (ASX:RBD), operating well-known franchises such as KFC, Pizza Hut, Taco Bell, and Carl's Jr., has announced record-breaking sales in its half-year report for the fiscal year 2024. The company, which also manages KFC and Taco Bell brands in Australia, reported a significant 7% increase in sales, reaching $687.2 million, compared to $640.2 million in the previous year.
This surge in sales has positively impacted the company's financial performance, leading to a 21% rise in store EBITDA, amounting to $94.6 million. The most striking development was a remarkable 473% increase in net profit, climbing to $12.6 million from $2.2 million in the prior period.
The company's strategy focused on evolving products and menus across its major brands, enhancing digital channels, and employing targeted marketing efforts, which contributed to the robust sales growth. Additionally, thoughtful pricing strategies played a crucial role in boosting revenue.
Sales in New Zealand and Hawaii remained strong, contributing significantly to the overall performance. However, results from other regions, including Australia and California, were less favorable, attributed to ongoing consumer pressures.
The report highlighted that although inflationary pressures and staff shortages have subsided, consumer spending continues to face challenges across all regions, particularly in Australia and California. This environment underscores the varying economic conditions across the markets in which Restaurant Brands operates.
As Restaurant Brands navigates these challenges, its strategic initiatives in product innovation, digital expansion, and pricing are expected to be critical drivers of future growth. The company's ability to adapt to changing consumer behavior and economic conditions across different regions will likely determine its performance in the coming quarters.
