Restaurant Brands’ sales in New Zealand for year down 4.3 percent

Restaurant Brands sales rose over the past year, despite a significant drop in its New Zealand business.

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Full-year sales for New Zealand were down 4.3 percent.
Photo: AFP

The fast food company’s total sales for the year ended in December rose 2.1 percent to $892.4 million, or by 8.4 percent, when four months of trading from its recently acquired California-based businesses were added in.

The company, which operates KFC, Carl’s Jr, Pizza Hutt and Taco Bell chains, said Covid-19 lockdowns had a significant negative affect on New Zealand’s total sales, reflecting the full closure of the businesses for five weeks and reduced dine-in sales.

“The ongoing global situation continues to affect all overseas markets,” it said.

Full-year sales for New Zealand were down 4.3 percent to $410.4m, with lost sales over the five-week closure costing an estimated $40m, which had not been recovered over the balance of the year.

Full-year sales for Australia rose 8.1 percent to $214.9m, while sales in Hawaii rose 7.4 percent to $215.1m.

Restaurant Brands bought 58 KFC and 11 joint KFC/Taco Bell stores in California in September, which resulted in sales of $51.9m.

It said that result beat its expectations.

The company would release its annual trading results for the year ended 31 December on 25 February.

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