Restaurant Brands, which operates fast food restaurants such as KFC, have seen sales skyrocket after Covid-19 restrictions lifted. Photo: 123RF
Restaurant Brands third quarter sales rose nearly a third following the lifting of Covid-19 restrictions in New Zealand and Australia.
The fast food operator's total sales for the third quarter to 30 September rose 32 percent to $322.2 million on the same time last year.
The company operates New Zealand franchises for KFC, Taco Bell, Pizza Hut and Carl's Jr in New Zealand, with KFC stores in Australia and California, and Taco Bell and Pizza Hut franchise operations in Hawaii, Guam and Saipan.
It said global inflationary pressures had continued from second quarter, with significant cost inflation across all regions, however it was working to increase prices where possible.
Total year to date sales were up 16 percent to $907.1m on the same year nine months earlier.
Sales were supported by the inclusion of 20 new stores, lower levels of Covid disruption and the strengthening United States and Australian dollars over the prior year, the company said.
New Zealand third quarter sales were up 44 percent to $137.6m or 2.2 percent on a same store basis, with all brands reporting sales growth.
Total year to date sales were up 16 percent to $389.4m on the prior year or 1.6 percent on a same store basis.
Store numbers increased by two to 140 during the quarter following the opening of new Taco Bell stores in Botany, Auckland and near Christchurch Airport.
