Collins Foods has appointed company CEO Drew O’Malley to the Board as managing director, effective immediately.
“I’m grateful for the opportunity to join the Board and take on additional responsibilities at Collins Foods,” said O’Malley.
“While we have achieved a great deal during the turbulent environment of the past 12 months, there remains a long growth runway ahead. I look forward to making a positive contribution to the Board as we execute on key strategic priorities in our pursuit of operational excellence and sustainable growth.”
The announcement comes on the same day the company announced its results for FY21 that saw Collins Foods, who are behind KFC and Taco Bell, deliver robust full-year earnings growth despite COVID-19 turbulence.
“KFC Australia was the standout performer with same store sales growing at a record rate of 12.9 per cent and Underlying (pre AASB 16) EBITDA margins reaching 17.9 per cent,” said O’Malley.
“With KFC Australia sustaining the higher sales base and clear brand strength, it will remain the core engine of performance. We are now operating under a new Development Agreement to build a minimum of 66 new restaurants by 2028, and expect to build ahead of the required rate at nine to 12 new restaurants in FY22.”
Overall revenue was up 12.4 per cent to $1.07 billion (FY20: $948.1 million) with Statutory EBITDA from continuing operations of $184.2 million (FY20: $175.1 million).
Meanwhile, the underlying EBIDTA from continuing operations was up 12.4 per cent to $136.3 million (FY20: $121.2 million).
“With continuing strong cash generation and a healthy balance sheet, Collins Foods is well positioned to continue to pursue strategic organic and acquisition growth opportunities across the Group in the year ahead,” said O’Malley of priorities for FY22.
“Our team remains aligned on delivering on our core mission of “Restaurants Done Better”. Our continued emphasis on operational execution, people development, and excellence in store development will underpin our pursuit of sustainable growth in FY22 and beyond.”