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Restaurant Brands New Zealand fiscal H2 profit climbs 9.4% YOY

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Restaurant Brands New Zealand fiscal H2 profit climbs 9.4% YOY

Restaurant Brands New Zealand Ltd. said its normalized net income for the fiscal second half ended March 2 amounted to 10 New Zealand cents per share, an increase of 9.3% from 9 cents per share in the second half ended Feb. 24, 2014.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NZ$9.3 million, a gain of 9.4% from NZ$8.5 million in the second half ended Feb. 24, 2014.

Total revenue grew 17.0% on an annual basis to NZ$180.6 million from NZ$154.4 million, and total operating expenses grew 17.5% from the prior-year period to NZ$164.8 million from NZ$140.2 million.

Reported net income grew 20.2% from the prior-year period to NZ$12.3 million, or 13 cents per share, from NZ$10.3 million, or 10 cents per share.

For the year, the company's normalized net income totaled 19 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 23 cents.

EPS rose 18.6% from 16 cents in the prior year.

Normalized net income was NZ$19.0 million, a rise of 18.7% from NZ$16.0 million in the prior year.

Full-year total revenue rose 12.8% from the prior-year period to NZ$372.6 million from NZ$330.4 million, and total operating expenses rose 12.1% on an annual basis to NZ$340.5 million from NZ$303.7 million.

The company said reported net income grew 19.4% on an annual basis to NZ$23.8 million, or 24 cents per share, in the full year, from NZ$20.0 million, or 20 cents per share.

As of April 16, US$1 was equivalent to NZ$1.31.