KEY POINTS:
Restaurant Brands has reported a half-year trading profit after tax of $4.6 million - 14.7 per cent down on the previous period.
Profit including non-trading items was $2.4 million for the half-year ended September 8, down 47.3 per cent on last year.
Total revenue of $162.5 million was 1.1 per cent down for the half, but same store sales were up 0.9 per cent.
Non-trading items amounted to $3.2 million, mainly an impairment charge of $2.5 million to the carrying value of goodwill for the Pizza Hut.
Three Pizza Hut stores were closed in the half, leaving the number of stores at 94.
A fully imputed interim dividend of 3c will be paid on November 21.
KFC was the best performing brand with a 4 per cent increase in revenue offsetting a 14.7 per cent decrease in Pizza Hut revenue.
"Whilst the overall result is below the prior year, directors are satisfied that this is an acceptable outcome in a tough retail environment with continuing inflationary pressures on input costs," the company said.
KFC had revenues of $110.4 million on the back of several new products and promotions.
"Despite the strong sales levels for KFC, the profit flow through was adversely impacted by higher input costs with substantial increases in chicken, other ingredients and labour, together with high levels of advertising spend."
Starbucks Coffee had sales of $17.3 million, down from $17.4 million.
Same store growth was 4.4 per cent.
Starbucks Ebitda of $1.7 million was 21 per cent down on the same period last year.
Restaurant Brands recorded assets totalling $107.5 million and total borrowings at $40.8 million.
