KFC and Pizza Hut boost Restaurant Brands outlook

Restaurant Brands is predicting an 87% increase in half-year earnings, thanks to a strong turnaround for the Pizza Hut franchise and sustained sales growth for the KFC takeaway chicken business.

For the 28 weeks to 14 September, Restaurant Brands is forecasting net after-tax profit, exclusing non-trading items, to be around $8.7 million, up $4.1 million on results for the first half of the last financial year.

"The full year result is anticipated to be in the vicinity of $15 million, which is also an improvement on the prior year's $11.7 million," the company said in an update to the NZX. 

"The company will be rolling over a strong second half result for the prior year.  Hence, the second half performance lift for the current year is not expected to be as strong."

The half year profit result will be announced on October 16.

Shares in Restaurant Brand jumped 12% to $1.15 immediately following the announcement.

Businesswire.co.nz

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