KUALA LUMPUR (Feb 28): QSR BRANDS BHD [] reported net profit of RM38.69 million in the fourth quarter ended Dec 31, 2011, up 9.7% from the RM35.25 million a year ago due to better profits from Pizza Hut Malaysia.
It said on Tuesday its revenue rose 11% to RM923.11 million from RM831.40 million. Earnings per share were 13.78 sen compared with 12.81 sen.
QSR said profit before tax increased by 5.5% to RM82 million from RM77.7 million a year ago. Profit before tax in 2010 included a revaluation surplus of RM 6.7 million and if measured on a comparable basis, the profit before tax in 4Q11 improved by RM 11.1 million or 15.6%.
It said he group achieved higher sales and earnings in the current quarter albeit a challenging economic environment. KFC India and KFCH International College continued to incur high initial start-up costs in the current quarter during the gestation period.
“The improved results was also attributed to better profits from Pizza Hut Malaysia due to higher same store sales growth achieved and reduced cost of certain food items. KFC Cambodia recorded higher loss during the quarter due to fixed asset impairment on 4 non performing restaurants,” it said.
QSR also reported an improvement in revenue and pre-tax profit principally due to the year end school holidays and festive celebrations during the current quarter of the financial year.
For the financial year ended Dec 31, 2011, its net profit increased by 2.6% to RM113.10 million friom RM110.17 million. The revenue rose 10.3% to RM3.349 billion from RM3.035 billion.
It said on Tuesday its revenue rose 11% to RM923.11 million from RM831.40 million. Earnings per share were 13.78 sen compared with 12.81 sen.
QSR said profit before tax increased by 5.5% to RM82 million from RM77.7 million a year ago. Profit before tax in 2010 included a revaluation surplus of RM 6.7 million and if measured on a comparable basis, the profit before tax in 4Q11 improved by RM 11.1 million or 15.6%.
It said he group achieved higher sales and earnings in the current quarter albeit a challenging economic environment. KFC India and KFCH International College continued to incur high initial start-up costs in the current quarter during the gestation period.
“The improved results was also attributed to better profits from Pizza Hut Malaysia due to higher same store sales growth achieved and reduced cost of certain food items. KFC Cambodia recorded higher loss during the quarter due to fixed asset impairment on 4 non performing restaurants,” it said.
QSR also reported an improvement in revenue and pre-tax profit principally due to the year end school holidays and festive celebrations during the current quarter of the financial year.
For the financial year ended Dec 31, 2011, its net profit increased by 2.6% to RM113.10 million friom RM110.17 million. The revenue rose 10.3% to RM3.349 billion from RM3.035 billion.
