Greg Smith: Retail expert says NZ's main fast food company Restaurant Brands full year profit could be half of last year's
Early Edition with Ryan Bridge · Newstalk ZB
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Show Notes
The country's main fast food company says its full year profit could be half of last year's.
Restaurant Brands, responsible for KFC, Taco Bell, Carl's Junior and Pizza Hut, is blaming inflation.
Devon Funds Management Retail Manager Greg Smith told Kate Hawkesby there's a clear driver of higher costs in the sector.
He says the price of ingredients has risen threefold in some cases.
The company is expecting between $12 and $16 million in profit.
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