STRONG START FOR COLLINS FOODS

STRONG START FOR COLLINS FOODS

COLLINS Foods Limited (ASX: CKF) has posted a strong start to the new financial year, with a 28 per cent increase in revenue to $124.3 million.

Australia’s largest KFC franchisee achieved net profit after tax of $4.5 million, up 21 per cent in the 12 weeks to July 20.

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 24 per cent to $13.3 million, compared to the previous corresponding quarter.

Outgoing managing director and CEO Kevin Perkins says store trading has exceeded expectations, with 3 per cent average growth in sales across 169 KFC outlets.

“KFC Queensland delivered 2.6 per cent growth in same store sales, while KFC Western Australia and Northern Territory ran well ahead of internal transformation targets generating 4.2 per cent growth in same store sales,” Perkins says.

“We are generally pleased with the way overall sales and earning s have trended over the first quarter of the new financial year and the outlook is positive for Collins Foods and the group’s ability to deliver growing shareholder returns.”

The company’s stake in Sizzler restaurants has experienced subdued performance, with its “Get Refreshed” program still in its early stages of implementation.

Perkins says the board will continue to monitor Sizzler’s transformation potential this year.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Crypto staking: a new way to earn passive income
Partner Content
You may be familiar with traditional ways of earning passive income such as trading sto...
Etoro
Advertisement

Related Stories

‘Devastated’ boss of collapsed Pivotal Homes warns that risk has swung against builders

‘Devastated’ boss of collapsed Pivotal Homes warns that risk has swung against builders

The devastated boss of collapsed Gold Coast homebuilder Pivotal Hom...

St Baker affirms commitment to Novonix as he exits board to focus on new fund

St Baker affirms commitment to Novonix as he exits board to focus on new fund

Rich lister and power industry titan Trevor St Baker, the largest i...

Microba strikes up partnership with Midnight Health to deliver personalised health services

Microba strikes up partnership with Midnight Health to deliver personalised health services

After making its debut on the ASX in April, biotech company Microba...

REMI Capital goes from spruiking for investors to $70m collapse in months

REMI Capital goes from spruiking for investors to $70m collapse in months

Just months ago, boutique investment company REMI Capital was encou...