Collins Foods booked slightly higher revenue in the half-year ended October 30, reflecting modest growth in Australia and softness in Europe.
The fast food chain operator saw revenue from continuing operations rise 1.2 per cent year over year to $703.5 million.
KFC Australia’s revenue increased 2.7 per cent to $536.8 million, thanks to six net new restaurants during the period.
Meanwhile, KFC Europe slid 3.4 per cent to $142.1 million amid ongoing weak consumer sentiment due to cost of living pressures.
Taco Bell declined 2 per cent to $24.6 million, with its free-standing drive-thru format outperforming the network, particularly in Victoria.
Collins Foods’ statutory net income plunged 52.3 per cent to $24.1 million due to a $20.2 million gain on sale of Sizzler Asia in the prior year and underlying performance.
In the first seven weeks of the second half, KFC Australia’s sales climbed 3.9 per cent while KFC Europe slid 1.6 per cent and Taco Bell’s performance remained flat.
“The business has strong fundamentals and is well positioned to benefit as consumer confidence returns,” said Xavier Simonet, Collins Food MD and CEO.
