KFC Australia boosts profit growth for Collins Foods
Total revenue was reported as AUD$269.7 million, a 5.1 per cent increase on the same period last year.
Collins Food said growth came from its KFC stores which experienced a 5.2 per cent increase in same store sales when comparing the results with sales made in the same period last year.
However, the Sizzler restaurants did not contribute to the growth with its Australian stores experiencing a 12 per cent drop in sales.
Collins Food has previously announced its intentions to close the small number of remaining Sizzler stores operational in Australia. Three have shut doors for the final time since the beginning of the 2016 financial year, Sizzler Asia has however opened one new restaurant in 2015.
CEO happy with progress of KFC
“We are very pleased with the overall performance of the Collins Food business, particularly the ongoing strength of our KFC business in both Queensland and Western Australia/Northern Territory,” said Collins Foods’ CEO Graham Maxwell.
“They have achieved strong same store sales growth and continue to deliver improved margins resulting from our ongoing focus on operational performance,” he said.
Maxwell further stated that Collins Foodswill continue to invest in its KFC restaurants.
“We continue to develop our network of KFC restaurants within the territories that we operate whilst at the same time investing in our existing restaurants to keep the look and feel contemporary and enticing for customers,” said Maxwell.
Collins Foods is also continuing its latest venture ‘Snag Stand’ a hot dog and sausage fast food outlet that has two stands in Melbourne and a newly-opened stand in the Gold Coast.