Better-than-expected sales of KFC in Australia helped Collins Foods lift net profit 21% to $4.5 million for the three months to July 20.
Revenue for Collins Foods, which also runs Sizzler restaurants, was up 28% to $124.3 million. EBITDA was up 24% to $13.3 million.
CEO Kevin Perkins says trading in KFC restaurants exceeded expectations, achieving 3% growth.
KFC Queensland delivered 2.6% growth while KFC Western Australia / Northern Territory ran well ahead of targets generating 4.2% growth.
However, Sizzler stores’ overall earnings continued to lag and management was monitoring a rejuvenation program, Get Refreshed, which was showing encouraging early results.
Perkins says he’s generally pleased with sales and earnings.
Collins Foods Limited operates 170 KFC and 26 Sizzler company owned restaurants in Australia. It also has 61 franchised Sizzler restaurants around Asia.
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