Ann: QUARTER: RBD: Restaurant Brands' Fourth

• Release Date: 07/03/12 13:09
• Summary: QUARTER: RBD: Restaurant Brands' Fourth Quarter Sales
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RBD
07/03/2012 11:09
QUARTER

REL: 1109 HRS Restaurant Brands New Zealand Limited

QUARTER: RBD: Restaurant Brands' Fourth Quarter Sales

7th March 2012
NZX

Restaurant Brands'  Sales Report

Restaurant Brands NZ Limited's full year sales for the year ending 27
February 2012 were $308.2m. This is a decrease of $16.2m on the previous
year, mainly arising from lost sales from store closures in Christchurch
following the 22 February 2011 earthquake ($5.9m) and the sell down of Pizza
Hut stores to independent franchisees ($5.9m). On a same store basis sales
were down (2.5%) for the year.

KFC saw an increase of $0.5m (0.2%) in total sales for the year to $236.3m,
rolling over a 5.6% increase in the prior period.  This was despite having
one store in Christchurch closed for the entire year.  Pizza Hut's annual
sales were down $13.8m of which $5.9m was as a result of the sell down of
eight stores this year to independent franchisees.  Starbucks Coffee also
recorded a decline in total sales of $2.9m of which $2.5m is due to the
closure of three stores in the Christchurch CBD for the entire year.

On a same store basis, KFC's annual sales were down 1.8%, Pizza Hut recorded
a 9.7% decrease and Starbucks Coffee saw an annual increase of 5.4%.

For the 4th quarter, total sales across the company's three brands were down
$4.1m or 5.5% with the earthquake-affected stores making up $1.1m and the
effect of Pizza Hut stores being sold to franchisees making up $1.8m of the
decline.  Same store sales decreased 1.8% with the KFC and Pizza Hut
operations recording same store declines and Starbucks Coffee continuing to
record modest same store sales growth.

A total of four stores (one KFC and three Starbucks Coffee) in Christchurch
city remained inaccessible with KFC Christchurch CBD closed permanently.

KFC
For the 4th quarter, KFC sales decreased 1.6% or $0.9m over the prior year to
$53.3m (compared with a 1.0% increase in the prior year).  The earthquakes
negatively impacted growth, accounting for about $0.5m in lost sales from the
closed Christchurch CBD store which is closed permanently, with the building
now demolished.

Same store sales were down by 1.9%, compared with a 2.6% decrease on the
prior year.

Successful promotions over the quarter included the debut of Fiery Drums
(spicy drumsticks), Sparklers - a flavoured carbonated beverage range, along
with the Las Vegas Quarter Pack promotion and the return of the All Stars
Pack for a limited time offer.

Full Year sales for KFC were $236.3m, $0.5m up on the previous year, an
increase of 0.2%, although down 1.8% on a same store basis.  Without the
impact of the earthquake, KFC sales would have been approximately $239.3m (an
increase of 1.4%).

Total stores at year end numbered 88, down one on last year with the
permanent closure of the Christchurch CBD store.

Pizza Hut
Quarterly sales for Pizza Hut were down $2.4m (or 19.3%) on prior year to
$10.2m.  Same store sales declined 5.3%.  Total sales were impacted by store
numbers being significantly down on the prior year, with the sell down of
eight stores to independent franchisees over the last 12 months contributing
$1.8m of the $2.4m in reduced revenues.

This quarter's promotional activity included new product innovation with the
The Big Box Meal bundle, together with some strong customer value
propositions such as the return of The Slab, and the $5.90 Everyday Value
promotion.

Full Year Pizza Hut sales were $45.5m, down $13.8m (23.3%) in total on prior
year with 11 less stores. The disposal of stores to franchisees contributed
$5.9m of the reduced sales revenues. Same store sales for the full year were
down 9.7%.

Store numbers at year end were 71, down 11 on last year (eight sales and
three closures) but with no further stores sold during the quarter.

A cumulative total of 13 stores had been sold to independent franchisees by
year end compared to five stores at the previous year end.

Starbucks Coffee
Starbucks Coffee total quarterly sales were $6.4m, down $0.7m or 10.2% on the
prior year, with five less stores trading.  Two were permanently closed as a
result of store rationalisation (at lease end) and a further three stores in
Christchurch (with $0.6m lost sales) still not trading as a result of the
earthquakes.

However, overall Starbucks Coffee sales were up 4.3% on a same store sales
basis. This continues the improving same store sales trend seen in the
latter half of last year.

Full Year Starbucks Coffee sales were $26.5m, down $2.9m (9.8%) in total on
prior year with two less stores, but effectively five stores down due to the
three stores that have not been able to trade this year in Christchurch,
making up $2.5m of the shortfall.  Same store sales YTD were up 5.4%.

Store numbers were stable for the quarter although they are down by two due
to store closures over the past year.  Of the 35 stores, only 32 were
actively trading because three earthquake affected stores in Cashel Mall,
Cathedral Square and Colombo Street remain closed.

Results Announcement
The annual profit announcement for Restaurant Brands will be made on 3 April
2012.

For further information please contact

Russel Creedy  Grant Ellis
CEO  CFO/Company Secretary
Phone: 525 8710  Phone: 525 8710
ENDS

RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report

 Summary of Results for the 4th Quarter (Q4)
(for the 12 weeks 6/12/2011 to 27/2/2012)

 Q4 2011/12 ($000's) Q4 2010/11 ($000's) % change

Q4 2011/12 vs Q4 2010/11

Total Store Sales - KFC  53,271   54,157  -1.6%
Total Store Sales - Pizza Hut  10,204 12,647 -19.3%
Total Store Sales - Starbucks Coffee  6,366   7,087  -10.2%

Total Store Sales  69,841   73,891  -5.5%

Same Store Sales - KFC 51,990  52,980  -1.9%
Same Store Sales - Pizza Hut  9,966   10,519  -5.3%
Same Store Sales - Starbucks Coffee  6,268   6,008  4.3%

Total Same Store Sales 68,224  69,507  -1.8%

YTD 2011/12 vs YTD 2010/11

Total Store Sales - KFC  236,284   235,805  0.2%
Total Store Sales - Pizza Hut  45,477 59,266 -23.3%
Total Store Sales - Starbucks Coffee  26,452   29,313  -9.8%

Total Store Sales  308,213   324,384  -5.0%

Same Store Sales - KFC 225,421   229,628  -1.8%
Same Store Sales - Pizza Hut  45,161   50,034  -9.7%
Same Store Sales - Starbucks Coffee  26,294   24,936  5.4%

Total Same Store Sales 296,876   304,598  -2.5%

NUMBER OF STORES OPEN AT QUARTER END

Qtr End no of Stores - KFC  88 89 -1
Qtr End no of Stores - Pizza Hut 71 82 -11
Qtr End no of Stores - Starbucks Coffee 35 37 -2

Total Stores 194 208 -14
End CA:00220438 For:RBD    Type:QUARTER    Time:2012-03-07 11:09:22