https://www.nzx.com/announcements/417467
Acting CEO now CEO.
No mention of an "extensive global search" or the like.
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https://www.nzx.com/announcements/417467
Acting CEO now CEO.
No mention of an "extensive global search" or the like.
https://www.nzherald.co.nz/lifestyle...GRCOAXPT4UEFI/
New packaging design (or something else) seems to have shocked ;)
RBD share price sinks below 4 bucks ….back to 2015 prices ouch
Maybe this weight loss drug going to be blamed for investors bailing
Should be the opposite-eat what you like, take medication, don't put on weight, eat more unhealthy food.........
https://www.nzx.com/announcements/420486
FY23 Q3 Sales Results
RBD total sales for the third quarter to 30 September 2023 increased to $340.9 million. This was up $18.8 million (+5.8%) over the equivalent period last year. This reflects ongoing recovery from the impacts of the 2022 COVID-19 Omicron outbreak and the price increases that were implemented across all markets.
Total year to date sales reached $981.1 million (an increase of 8.2% on the prior year). Total sales were supported by the net inclusion of 5 new stores (to 377 stores in total) and the strengthening US dollar since the equivalent period last year.
New Zealand
Third quarter sales for New Zealand were $148.0 million, up 7.6% in total and 5.0% on a same store basis. Sales grew across all brands, largely driven by price increases and the easing of pandemic-related trading constraints.
Total year to date sales were $420.4 million, an increase of 8.0% on the prior year and 5.6% on a same store basis.
Store numbers increased by two to 145 stores during the quarter with the opening of a Carl’s Jr. in Hamilton and a Taco Bell in Otahuhu. In addition to the 145 company owned stores, the business has 114 Pizza Hut stores run by independent franchisees (an increase of six stores from December 2022).
Australia
Australia’s sales for the third quarter were $A74.1 million ($NZ80.1 million), an increase of 13.0% in total on the prior year. Same store sales were up 8.0% (local currency). Mall and city store sales have recovered to near pre-COVID-19 levels.
Total year to date sales were $A214.3 million ($NZ232.0 million). This is an increase of 13.8% on a total basis on the prior year and 9.1% on a same store basis.
Store numbers remained constant at 85 stores during the quarter.
Hawaii
Sales for the third quarter in Hawaii were $US40.3 million ($NZ66.6 million), an increase of 0.9% on a total basis, and up 5.7% on a same store basis (local currency).
Hawaii trading has solidified around the new highs achieved during last year and the new stores opened in 2022 continued to produce strong trading results. Total year to date sales were $US119.6 million ($NZ193.6 million), an increase of 3.1% on a total basis and 3.7% on a same store basis.
Store numbers decreased by two during the quarter to 71 stores with the loss of the Pizza Hut and Taco Bell stores in Lahaina during the large fire. These stores were fully insured and are planned to be rebuilt in 2024.
California
California’s sales in the third quarter were $US27.9 million ($NZ46.2 million), a decrease of 1.8% on a total basis and 3.3% on a same store basis (local currency).
Same store sales have reduced on the prior year largely due to customers shifting to value-orientated menu and promotional items.
Total year-to-date sales were $US83.4 million ($NZ135.1 million), a decrease of 1.0% on a total basis and 3.6% on a same store basis.
Store numbers remained constant at 76 stores during the quarter.
California a big problem when factoring in inflation!!
Update seems to have caused a slight bump off the floor .. but how does the bottom line look ? :)
You can increase sales off the wall, but if the bottom line isn't showing a lift, you're going nowhere
and dividend questionmarks remain ..
So pretty much all sales growth on same store basis below inflation.
A growth company thats not growing.
Only need 6.8% increase in expenses to cancel out the sales growth.
What is worrying is debt predominantly in us dollars with a decrease of 1.8% in sales. So put it this way relatively speaking, they need to sell more quarter packs outside of the US to offset the repayments in the US.
The Aus sales looks good though.
Inflation is going down...food prices and wages also stagnant....
Would this greasy stock come back alive???
Greasy stock on the top of NZX best performance
SP 05.01.23 $5.60
SP 29.12.23 $3.98
Net Minus (-1.62)
20.4.23 Cash Div 0.16
Net Plus / Minus (- 1.46)
= Minus (-26.07%) for the year
https://www.nzx.com/instruments/RBD
How much more greasy will things get with the prevailing economic conditions in 2024 ? ;)
I meant top performer of the last day of trading...up 5%
I do think things will get better... inflation is easing....n interest rate will start to go down...the last announcement said the inflation and high interest subdued the profit margin. The prices of thier menus are increasing...
The world is addicted to fast food n sugar. Especially now things are tough.... family of 4 ..go to cafe or restaurant to eat .. easily $150-200....fast food....$60-80 to feed 4 people...
Thoughts on RBD. Looking cheap at the mo. I've got a lazy 20K to chuck at it. :cool:
NPAT for H1 2023 was just 2.2 Mil on $673m Revenue
Gross Profits reported in 3 recent periods dont appear to be showing sign of being runaway stars
Loans are static in Jun 22, Dec 22 & Jun 23 @ approx $280m then Jun 23 @ $290 m
I would say further pressure still incoming on Overheads - Leases, Oncosts, Staffing, Interest/ Financing
and that ignores economic conditions deteriorating in a cooling off Goldfish bowl after H1 23 reporting.
Will further dividends be seen or not ; or cash retained to reduce loans ?
With a majority stakeholder in place, possibly no great incentive for future dividend payments ?
Net Equity 2022 $293 m dipping to $280m 2023
Equity Ratio 20.6% dipping to 19.6% H2 22 & 19.6% in H1 23
Current Assets/Liabilities ratio was negative in all three periods Jun 22, Dec 22 & Jun 23
possibly more so if adverse winds present after H1 23 reporting.
But that might be quite okay for basically retail cash on the counter fast tucker businesses
Will there be further rapid improvement in bottom line past H1 23 - if so when ?
Will there be a dip into the red for H2 2023 perhaps even further past that ?
I know which way my gut feeling is pointing & that's to the conservative
but I may be wrong ;)
Will the Investors flavour of the day be a further dip to add to more recent down the slide $15 to less than $4 in the past 2 years, if H2 23 sees Red Ink and Dividend prospects evaporate for another long holiday ? ;)
If things get really tough - Cap Raise an attractive menu addition - anyone ? ;)
Lets face it - if it's not being earned, the ceiling room on borrowings is narrow - then it has to come from somewhere to sure up the expanded chain of fast food jobs, unless some of the empire gets hocked off to fill a gap ..
Lots of nice Intangible padding on the Sheet here too $360m @ H1 23 and Beancounter's Fantasy world Creative Right of Use BS bunkim to the tune of $620m on assets side & $733m on the liability side
Thanks nztx for that thoroughly good review. Much appreciated.