In The News

Speaking at the listed cafe and fast food company's annual general meeting in Auckland today, chairman Ted van Arkel said most shareholders would be satisfied with the return on their investment over the past year. 

'Restaurant Brands is a business going from strength to strength,' Arkel said.

'We have the core competencies, the financial muscle and scale to capitalise on any opportunities that do arise.'

Restaurant Brands' total sales during the first quarter (12 weeks ended 19 May 2014) were $77.7 million, an increase of 5.9% or $4.3 million on the equivalent period last year, with all four brandsrecording positive sales growth.

Of the total increase in sales KFC was the key contributor at $2.8 million with Carl’s Jr. contributing a further $1.4 million.

Same store sales for the company were up 4.3% with strong growth in KFC which grew 5.0%. Starbucks Coffee was up 5.5% and Pizza Hut up 9.3%. Carl’s Jr was down 36.2% as it rolled over very high new store opening sales in the four stores open in the prior year.

Third-quarter sales at the Mad Butcher business were weighed down by product shortages created by last year's drought, and aren't expected to recover in the fourth quarter. Still, the company's half-stake in Kiwi Pacific Foods, which makes hamburger patties for Burger King, is expected to make up for the shortfall.

Starbucks has gone well beyond allowing people to build custom orders around its traditional coffee drinks.

Last weekend, before my daughter and I left home, she had already searched for “Starbucks secret menu” on the computer and narrowed her choices to a handful of drinks (all of which involved various ingredients from Starbucks' menu for adult drinks).

By the time we reached the store, my daughter had decided on a “Rolo Frap," but neither the Starbucks’ employee taking her order nor the barista had heard of the drink. Rather than disappoint my daughter, they asked for the recipe to make it and we grabbed it online (using the free and easy-to-access Starbucks Wi-Fi, of course).

Starbucks prepared and priced a drink that they had never heard of before and my daughter was delighted -- so much so that she took a picture of the drink and posted it on her Instagram before she even tasted it.

'McDonald's and our 53 New Zealand franchisees largely enjoyed a positive 2013, buoyed by the launch and roll out of Georgie Pie,' McDonald's New Zealand managing director Patrick Wilson said.

But while revenue was up, net profit for the period was down 3.7 per cent to $30.7m.

Having recently opened a restaurant in north Hamilton, McDonald's now operated 163 restaurants and employed more than 9000 staff in New Zealand.

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Marshall said he had done his due diligence on the business and there was potential for it to do well in this country. The Golden Roast will face competition from a number of existing operators offering spit-roast catering services.

Revenue from the Middle Eastern operations helped BurgerFuel post its maiden annual profit in 2011. In the 12 months to March 31 last year the company reported total sales of $16.7 million from its stores in Saudi Arabia, the UAE and Iraq.

Although Mason will soon move to the US to spearhead the company's launch there, he says there's plenty of scope for continued growth in the Middle East. "We see a lot of potential in the more fringe markets that we're in or going into." Mason says Iraq has enormous potential, despite sectarian attacks and a resurgent al-Qaeda presence. BurgerFuel operates only one store in Sulaymaniyah, in Iraq's autonomous Kurdish region, but the company's Iraqi franchisee is scoping out possible sites in Baghdad.

Libya, another politically volatile country that should get its first BurgerFuel store this year, is seen as a lucrative opportunity by the New Zealand brand. And the holiest city in Islam - Saudi Arabia's Mecca - might get a BurgerFuel store in the near future.

Restaurant Brands has posted a net profit of $18.9 million in the year to February 24, up 6.8 per cent on the previous year.

Group revenue for the fast-food retailer was up $17.6m (5.6 per cent) to $330.4m, boosted by growth from KFC (up 1.9 per cent) and the rollout of the Carl's Jr brand.

Strong performances by Pizza Hut and Starbucks Coffee, as well as positive earnings from Carl's Jr, offset slightly reduced KFC margins.

Mr Morton was not a supplier to Countdown himself. "But I've definitely had comments from suppliers where that has been brought up to me, that they had pressure put on them.''

There was "a culture of bullying within the whole organisation'', Mr Morton said.

The Mad Butcher got "smashed with lawyers' letters'' and complaints to the Advertising Standards Authority when the company engaged in comparative advertising claiming its products were cheaper.

"They come down like a sledgehammer with lawyers letters,'' he said.

"They're being bullies because they believe that they're big and they're powerful, they can send us all these letters, they have lawyers on staff, they have some of the biggest law firms in New Zealand working for them, and they think they can tie you up with that litigation.

"I'm trying to stand up for the little guys here of New Zealand, and say, 'Listen New Zealanders, you should support the little guys here in New Zealand.'''

Porteous said Onion would only lend to G.J. Gardner clients initially and might eventually move into insurance. "Onion's key purpose is to make buying or building a new home easy by providing skilled specialists in finance and insurance with extensive knowledge of the housing market and home building sector," he said.

The lending issue created obstacles for many, he said, and Onion could also provide funds for buyers of existing houses which new house-builders needed to quit before they could start their construction project.

Onion was sourcing its funds from banks including ASB and Westpac.