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Restaurant Brands New Zealand fiscal H1 profit climbs 29.2% YOY

Restaurant Brands New Zealand Ltd. said its normalized net income for the fiscal first half ended Sept. 8 came to 10 New Zealand cents per share, an increase of 29.2% from 8 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NZ$9.7 million, an increase of 29.2% from NZ$7.5 million in the prior-year period.

Total revenue increased 9.1% year over year to NZ$192.0 million from NZ$176.0 million, and total operating expenses rose 7.5% on an annual basis to NZ$175.7 million from NZ$163.5 million.

Reported net income increased 18.7% from the prior-year period to NZ$11.5 million, or 12 cents per share, from NZ$9.7 million, or 10 cents per share.

As of Oct. 23, US$1 was equivalent to NZ$1.28.