AuBJ ? 4 September ? Collins Foods, which operates KFC and Sizzler restaurants in Australia, has said current trading conditions are the most challenging they?ve ever been.
The company says this has contributed to the fall in its share price from $2.50 a year ago, to $1.14 now.
Collins Foods chairman Russell Tate, speaking at the company?s annual general meeting, said: ?To say we could not have picked a worse year in which to make our IPO [initial public offer] and list now sounds a gross understatement.?
A recent marketing campaign for KFC boosted the fast food chain?s performance in the fiscal quarter to July.
Regardless, chief executive Kevin Perkins said he expected economic conditions and cost pressures to continue to cause problems in the short term.
Perkins also warned those at the meeting that severe drought in the United States could bump up wheat prices and make poultry more expensive in 2013.
twitter.com/TheAUBJ
Source: http://www.australianbusinessjournal.com.au/retail-conditions-worse-than-ever-says-kfc-operator/
Hunter Pence NBCOlympics Danell Leyva Ye Shiwen OJ Murdock Olympics Live Mens Gymnastics
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.