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Restaurant Brands sees 17pc increase in Q2 sales

By NZPA

Tuesday 17th September 2002

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Fast food and coffee franchise company Restaurant Brands has posted second quarter sales of $94 million, a 17.7 percent increase on the same period last year.

That included the Pizza Hut business in Victoria, Australia, which was bought in April.

Total sales for the four months to September 9 in New Zealand were $85.1 million, up 6.6 percent on the prior year.

Restaurant Brands said all three of its New Zealand brands recorded an increase in sales.

Pizza Hut New Zealand sales were $24.1 million, up 12.4 percent on last year and 6.6 percent on a same store basis.

KFC New Zealand sales were $54.1 million, up 1.3 percent and 0.7 percent on a same store basis.

Chief executive Jim Collier said KFC's 60 stores were undergoing refurbishment which would be complete by the end of the calendar year.

Starbucks Coffee sales were $6.9 million, up 37.8 percent on the prior year, although same store sales were down 9.4 percent as the chain rapidly expanded.

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