Collins Foods half-year financial results overview

Collins Foods (ASX:CKF) has released its half-year financial report for the period ending 13 October 2024. The company saw a 1.2% rise in revenue, reaching $703.5 million. However, net profit attributable to members fell sharply by 52.1% to $24.1 million, influenced by the absence of profits from discontinued operations.

Collins Foods financial results and future outlook

Collins Foods (ASX:CKF) reported a slight increase in revenue but faced a significant decrease in net profit for the half-year ending 13 October 2024. The absence of profits from discontinued operations was a key factor in the profit decline. Despite these challenges, the company declared an interim fully franked dividend of 11.0 cents per share. Collins Foods continues to focus on expanding its network, with 386 KFC and Taco Bell restaurants under its operation across Australia and Europe. The company remains committed to investing in network growth, technology, and sustainability. Newly appointed Managing Director and CEO Xavier Simonet, who took over on 4 November 2024, is expected to steer the company through ongoing economic challenges, including inflationary pressures and a pending class action related to rest breaks.

Executive insights into financial performance

The operating environment remains challenging, with inflationary pressures impacting margins.