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The KFC outlet on Independence Square, Port of Spain. – File photo
PRESTIGE Holdings’ chairman, Christian Mouttet, celebrated Kentucky Fried Chicken (KFC’s) serving 150,000 harvest meals to the less fortunate in his remarks in the company’s consolidated audited financial statements for the first quarter ending February 29.
The company’s performance improved for the quarter, resulting in a 25 per cent increase in profits.
The Harvest Meal Programme has been active for two years and provides unsold KFC meals to participating NGOs.
Mouttet said, “This unsold food is carefully packaged and transported, following accepted global food and safety protocols and is then repurposed into delicious meals and served to the less fortunate.
“We are very happy to have the opportunity to positively impact communities in which we operate by partnering with NGOs to provide for those in need.”
Mouttet added that profit after tax increased from $7.8 million for the first quarter of 2023 to $9.8 million for the same period this year.
Group sales increased by ten per cent to $341 million, as compared to $341 million for the same period last year. That resulted in a profit before tax of $15.3 million as compared to $11.6 million the year before.
Mouttet said all brands had strong performances for the quarter, with Subway and Pizza Hut results driven by improved operations, efficiencies and strong demand for their menu and offerings.
Sales were affected by the opening of five new Starbucks restaurants at Brentwood, Aranguez, O’Meara, St Augustine and Guyana.
Mouttet added that the company is also remodelling assets in Trinidad and Tobago.
“We expect these developments, as well as our continued brand initiatives, to continue to deliver positive results.”
