Restaurant Brands ups profit guidance

RBD

1.970

0.02

1.03%

Click for a detailed chart

Relevant offers

Industries

Kiwi sales put sparkle back in jeweller Heartland steering steadily to target Gold price bumps up miner's profit Companies struggle to raise value Telcos call for Crown company to be scrapped Second week-long strike for port No Kiwi jobs lost in call centre move: Orcon Council signs off on St Lukes mall plans Goodman Fielder interim profit tanks Qantas cuts Auckland-LA route

Franchise takeout food operator Restaurant Brands Ltd reports better trading conditions have allowed it to increase its profit guidance for the year to February 28 to $17.5 million.

This represents a 50 percent or $5.8 million improvement on the prior year's result, and will produce earnings per share of 18 cents for the company, which manages the KFC, Pizza Hut and Starbucks brands in New Zealand. 

EPS in the last financial year was 8.5 cents.

The profit upgrade is the second in the last two months. 

The company announced in September that it expected net full year earnings to top $15 million, thanks to strong growth in the KFC business and turnaround at Pizza Hut. 

KFC accounted for almost 70 percent of total revenue and 90 percent of earnings last year.

-BUSINESSWIRE