The largest operator of KFC stores in Australia says downbeat consumer spending combined with rising wages and energy costs will put more pressure on profit margins in the next six months.
Collins Foods, which operates 285 of the 750 KFC outlets in Australia, cut its dividend to 11¢ from 12.5¢ after net profit tumbled by 52 per cent to $24.1 million for the six months ending October 13.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
