Q1 Sales Results Overview

Restaurant Brands New Zealand Limited (ASX: $RBD) has announced its first quarter sales results for FY24. The total sales for the quarter ending 31 March 2024 reached $333.0 million, marking a significant increase of $24.4 million (+7.9%) compared to the same period last year. The strong sales growth in the New Zealand and Hawaiian markets offset the slowing sales growth in Australia and negative sales growth in California. The company continues to face cost of living pressures impacting consumer spending across all markets.

Executive Commentary

The Group remains focused on driving improved margins and increased profit levels while maintaining brand health, protecting the strong customer base, and positioning the business to deliver sustainable long-term value. This is supported by ongoing strategic pricing and cost control programs across all markets, alongside investments into technology, product innovation, network expansion, and brand experience.

Summary of Q1 Sales and Outlook

Restaurant Brands New Zealand Limited's Q1 sales results reflect a positive growth trajectory, primarily driven by the New Zealand and Hawaiian markets. The company's strategic focus on driving improved margins, increasing profit levels, and maintaining brand health demonstrates its commitment to long-term value creation. Despite challenges in the Australian and Californian markets due to cost of living pressures impacting consumer spending, the company remains optimistic about its future outlook. The upcoming Annual Shareholders' Meeting on 24 May 2024 will provide an opportunity for stakeholders to gain further insights into the company's performance and strategic direction.