Taco Bell and KFC Australia operator Restaurant Brands has capped off a solid period of Aussie growth, announcing a sales boom of over $10m.
In an ASX announcement posted on Monday, the international franchise operator revealed that total sales for the third quarter of the financial year had hit $192m, an increase of $10.5m or 5.8 per cent on last year’s corresponding period.
While the group’s New Zealand and Hawaiian operations performed strongly, it was a number of new Australian acquisitions and growth partnerships that delivered Down Under.
KFC Australia
Restaurant Brands’ significant KFC portfolio kicked off the quarter with a powerful run of sales. Over the period, KFC Australia posted sales of $43.7m, an increase of 6.7 per cent on a total basis and 3.9 per cent on a same store basis.
It follows substantial growth in the company’s KFC Australia operations throughout 2019. In the year to date, sales for KFC Australia were $143.1m, jumping 4.9 per cent on a total basis and 5.3 per cent on a same store basis.
Despite new store numbers slowing dramatically, the third quarter result further strengthened Restaurant Brands’ KFC Australia operations. However, a new venture is certain to bolster results next period.
Taco Bell Australia
The company recently opened its inaugural Taco Bell Australia restaurant in Newcastle. The new outlet headlines the Mexican-inspired chain’s growth throughout New South Wales, with a further nine Taco Bell restaurants to open this year.
At the time, Russel Creedy, Restaurant Brands Group CEO revealed that a total estimated spend of $65m had been committed across New Zealand and Australia over the next five years.
The expansion includes a minimum of 40 restaurants across New South Wales and the ACT, generating over 2,000 jobs in the two states.
“We are delighted to be starting our journey in Jesmond and look forward to launching in Blacktown shortly after,” Creedy said.
Restaurant Brands results
It’s been another monster year of results for the New Zealand-based operator. Growing KFC Australia operations and a developing Taco Bell presence is swelling interest Down Under.
For the third quarter period, the Australian operating division achieved a total sales increase of 3.9 per cent, compared with New Zealand’s 5.6 per cent rise and Hawaii’s 8.8 per cent jump.