Ann: QUARTER: RBD: Restaurant Brands' Second

• Release Date: 20/09/12 12:24
• Summary: QUARTER: RBD: Restaurant Brands' Second Quarter Sales
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RBD
20/09/2012 10:24
QUARTER

REL: 1024 HRS Restaurant Brands New Zealand Limited

QUARTER: RBD: Restaurant Brands' Second Quarter Sales

20 September 2012
NZX

Restaurant Brands' Second Quarter Sales up 2.3%

Restaurant Brands' total sales across the company's three brands trading
during the second quarter (16 weeks ended 10th September 2012) were $96.1
million, an increase of 2.3% or $2.2 million on the equivalent period last
year.  Same store sales for the company increased by 3.7%.

KFC total sales increased 1.8% in the quarter. Starbucks sales decreased
5.1% but Pizza Hut sales were 9.5% higher than last year despite having 11
less stores at quarter end compared to the equivalent period last year.

KFC same store sales saw a 0.7% increase. Starbucks had a same store decline
of 4.0% but Pizza Hut saw a significant increase of 26.5%.

KFC
KFC sales increased 1.8% or $1.3 million over the prior year to $73.4 million
(compared with a 0.9% decrease in the prior year).  Sales were enhanced by
the return of the KFC Double Down burger promotion, which although not
reaching the same levels as last year, certainly had a positive impact on KFC
sales as a limited time offer.

Same store sales improved by 0.7%.  Successful product releases over the
second quarter included the return of the Double Down, introduction of the
KFC Pie, $20 Dinner Deals, as well as the return of old favourites like Hot
and Spicy Chicken.

During the quarter, stores in Te Awamutu, Thames and Hawera were closed
temporarily for transformation with Hawera reopening during August and Te
Awamutu and Thames reopening during September.

Two stores at Lower Hutt and Park Avenue, Hutt Valley were closed during the
quarter to prepare for site relocation.  The relocation is part of the next
phase of the KFC transformation programme.

The new relocated KFC Hutt Valley store opened shortly after quarter end as
one of the flagship stores for the brand with very strong sales.

As a result of the closure of the Lower Hutt store, store numbers were
reduced to 86 at quarter end, three stores less than prior year.  This was
two less trading stores than the prior year as one store in Christchurch did
not trade in the prior year and was subsequently permanently closed as a
result of the earthquake.

Year to date sales for KFC were $127.4 million, $0.5 million down on the
previous year to date. This was a decrease of 0.4% on a total basis and down
2.4% on a same store basis.

Pizza Hut
Total sales for Pizza Hut at $15.3 million were up $1.3m (9.5%) despite a
reduction of 11 stores (15%) on the prior year from the sale of stores to
independent franchisees and closures.

Same store sales increased by 26.5%.  This quarter's main promotional
activity has been the sustained success of the $4.90 Large Classics Pizza
offering a strong value-based entry and headline price point for Pizza Hut in
a very competitive and crowded market. During the quarter, Pizza Hut also
ran a $9.90 Large Favourites Pizza limited time offer which was also
successful.

Company store numbers were reduced by six with the sale of five stores in
Papamoa, Tauranga, Westown, Ashburton and Mount Maunganui and the closure of
the Taradale store during the quarter. This brought company store numbers to
63, down 11 on last year with an additional 20 stores now operated by
independent franchisees.

Year to date sales for Pizza Hut were $25.9 million, $1.3 million more than
the previous year to date.  This was an increase of 5.4% on a total basis and
an increase of 19.5% on a same store basis.

Total Pizza Hut system sales (including those of independent franchisees)
were $33.2m for the year to date, up 37.6% in total and up 18.3% on a same
store basis.

Starbucks Coffee
Starbucks Coffee total quarterly sales were $7.5 million, down 5.1% on the
prior year.  Same store sales were down 4.0% rolling a 6.2% increase in the
prior year.

Changes to the customer offer have been made during the quarter to address
the same store sales decline.  These include revisions to beverage
formulations, new food offerings and more competitive pricing options.

During the quarter, the Cathedral Square, Christchurch store was permanently
closed due to a lease termination relating to the earthquake, reducing the
store count by one to 33 stores, down two on last year.

In Christchurch, the Cashel Mall store also remains closed as a result of the
earthquake.

Year to date sales for Starbucks were $13.4 million, $0.5 million less than
the previous year to date.  This was a decrease of 4.4% on a total basis and
a decrease of 2.7% on a same store basis.

Carl's Jr
Restaurant Brands plans to open its first Carl's Jr restaurant at the end of
the third quarter of this year with several more store sites currently under
evaluation.

For further information please contact

Russel Creedy  Grant Ellis
CEO  CFO/Company Secretary
Phone: 525 8722  Phone: 525 8722

ENDS

RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report

Summary of Results for the 2nd Quarter (Q2)
(for the 16 weeks 22/5/2012 to 10/9/2012)

 Q2 2012/13 ($000's) Q2 2011/12 ($000's) % change

Q2 2012/13 vs Q2 2011/12

Total Store Sales - KFC  73,377   72,111  1.8%
Total Store Sales - Pizza Hut  15,299 13,977 9.5%
Total Store Sales - Starbucks Coffee  7,452   7,849  -5.1%

Total Store Sales  96,128   93,937  2.3%

Same Store Sales - KFC 72,164  71,650  0.7%
Same Store Sales - Pizza Hut  15,144   11,970  26.5%
Same Store Sales - Starbucks Coffee  7,448   7,762  -4.0%

Total Same Store Sales 94,756  91,382  3.7%

YTD 2012/13 vs YTD 2011/12

Total Store Sales - KFC  127,443   127,912  -0.4%
Total Store Sales - Pizza Hut  25,884 24,565 5.4%
Total Store Sales - Starbucks Coffee  13,369   13,980  -4.4%

Total Store Sales  166,696   166,457  0.1%

Same Store Sales - KFC 124,337   127,372  -2.4%
Same Store Sales - Pizza Hut  25,282   21,149  19.5%
Same Store Sales - Starbucks Coffee  13,254   13,621  -2.7%

Total Same Store Sales 162,873   162,143  0.5%

NUMBER OF STORES OPEN AT QUARTER END

Qtr End no of Stores - KFC  86 89 -3
Qtr End no of Stores - Pizza Hut 63 74 -11
Qtr End no of Stores - Starbucks Coffee 33 35 -2

Total Stores 182 198 -16
End CA:00227518 For:RBD    Type:QUARTER    Time:2012-09-20 10:24:29