Restaurant Brands New Zealand Q4 Sales Results

Restaurant Brands New Zealand Limited (ASX: $RBD) has reported a 2.7% increase in total sales for the fourth quarter to 31 December 2023, reaching $341.1 million. The New Zealand market experienced strong sales growth, offsetting the slowing of sales growth in other regions due to cost of living pressures. Total year sales reached $1,322.2 million, supported by the recovery from the impacts of the 2022 COVID-19 Omicron outbreak and a full year of trading from new stores opened in 2022.

Executive Commentary on Q4 Sales Results

The business has continued to implement a strategic programme of price increases across all markets to relieve margin pressures, while balancing brand health and the financial pressures faced by our customers.

Summary of Q4 Sales Results and Outlook

Restaurant Brands New Zealand Limited has reported a 2.7% increase in total sales for the fourth quarter of FY23, driven by strong sales growth in the New Zealand market. The company's strategic programme of price increases across all markets aims to relieve margin pressures while considering the financial pressures faced by customers. Despite cost of living pressures impacting discretionary household expenditure in some regions, the company expects to report full year NPAT for the 2023 financial year within the provided guidance range of $12 million to $16 million. Restaurant Brands New Zealand will release its annual trading results for the year ended 31 December 2023 on 26 February 2024.