KFC’s same store sales have grown three per cent, boosting parent company Collin Foods’ first quarter earnings.
Appetite for fried chicken grew in the past three months, lifting KFC’s sales beyond expectations.
KFC operator Collins Foods, which also owns Sizzler restaurants, lifted its profit 21 per cent to $4.5 million in the three months to July 20, according to unaudited financial results.
A large contributor is people’s appetite for fried chicken, with same store sales rising three per cent across Collins Foods’ 169 KFC outlets.
Managing director Kevin Perkins says KFC’s trade in the first quarter has “exceeded expectations.”
KFC Queensland delivered 2.6 per cent growth in same store sales, while KFC Western Australia and Northern Territory generated 4.2 per cent growth in same store sales.
Sizzler earnings continued to lag the prior year.
Mr Perkins said the board was closely monitoring Sizzlers’ transformation potential through its Get Refreshed initiative.
“While this program is still in the early stages of implementation, the complete Get Refreshed package including facility modernisation in Sizzler Cleveland continues to deliver encouraging early results,” he said.
Collins Foods’ earnings of $13.3 million in the quarter were up 24 per cent.
Its shares gained 10 cents, or 4.35 per cent, to $2.40.