COVID-19 continues to affect Restaurant Brands’ business operations, with high case numbers resultingin staffing issues for the business as well as its contractors and suppliers.
Profit Guidance - Sales Growth Delivered Despite Continued COVID-19 Disruptions
COVID-19 continues to affect Restaurant Brands’ business operations, with high case numbers resultingin staffing issues for the business as well as its contractors and suppliers.
Worldwide inflationary pressures have resulted in the company experiencing significant cost inflationacross all regions. The company has implemented price increases where possible in response toincreased costs.
Preliminary management financial results for the half year ending 30 June 2022 indicate that NPAT forthe period will be between $14 million and $16 million (half year 2021 NPAT was $34.5m). The halfyear for 2021 included one-off income of $11.4 million arising from the forgiveness of the Hawaiian PPPloan.
Restaurant Brands’ total sales for the second quarter to 30 June 2022 increased to $309.5 million (anincrease of 10.2% over the equivalent period last year). Total year to date sales reached $584.9 million(an increase of 8.2% on the prior year). Total sales were supported by the inclusion of 17 new stores(to 367 stores in total) and the strengthening US dollar since the equivalent period last year.
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Restaurant Brands Profit Guidance And Quarter Two Sales Release
COVID-19 continues to affect Restaurant Brands’ business operations, with high case numbers resultingin staffing issues for the business as well as its contractors and suppliers.
26 July 2022 at 4:00:00 pm