Fast food operator Guzman Y Gomez has reported increased overall growth underpinned by overseas expansion in the third quarter.
Network sales growth in Australia was reported at 11 per cent, while total network – including the burgeoning US market – was 23.6 per cent.
The company’s overall network sales were $289.5 million, compared to $234.2 million for the same quarter last year.
The growth in Australian network sales was attributed to operational and marketing initiatives including the introduction of Street Corn, a new menu option, the expansion of 24/7 trading, the continuation of the Good Mornings Start with GYG campaign and highlighting GYG’s 100 per cent free range chicken.
The increase in network sales growth in the US was attributed to the two new restaurant openings and the launch of the Clean is the New Healthy campaign.
Guzman Y Gomez also revealed it is on track to pay its maiden dividend in September, given the company’s strong balance sheet position and cash flow generation.
Guzman Y Gomez expects to open 31 restaurants this financial year.
This article was first published on sibling website Inside Retail.
