An upbeat report from Restaurant Brands excited interest from investors yesterday, with the company's share price rising 1.71% on strong volume.
The company reported increased sales of $185.7 million for the 28 weeks ending September 8, up 5.8% on the previous corresponding period.
The increased sales were driven by a strong performance from KFC and an increased contribution from the new Carl's Jr brand.
Same-store sales were up 4.9% for the period. There was solid same-store growth from KFC, Pizza Hut and Starbucks Coffee.
Brand operating earnings rose $4.4 million, or 16.2%, to $31.6 million, the bulk of which came from KFC, but Restaurant Brands chief executive Russel Creedy said all four brands delivered an improved profit.
An interim dividend of 7.5c per share was declared, up 1cps on last year.
Craigs Investment Partners broker Peter McIntyre said Restaurant Brands had been a constant performer in recent periods, with the ability to surprise the market.
The increased contribution from Carl's Jr was welcomed.
''In a low interest rate environment, the dividends paid make the company attractive to investors,'' he said.
Store numbers totalled 174 at the end of the half, the same number as last year.
Pizza Hut store numbers reduced, following disposals to independent franchisees and Starbucks closures were offset by Carl's Jr builds and KFC acquisitions.
