AmRest with PLN 1.15 bln revenues in Q1 - prelim. results

WSE-listed restaurant operator AmRest had a 33.7 percent y/y increase in Q1 revenues to PLN 1.147 billion, according to the company's preliminary financial results. In local currencies, the revenues increased by 30.6 percent. “Q1 sales were boosted by taking over Starbucks (May 2016) and KFC (March 2017) outlets in Germany, excluding these chains, revenues were up by 18.2 percent,” AmRest said. For the CEE region, sales were up by 16.1 percent y/y to PLN 562 million. Russian operations amounted to PLN 138 million revenue, up by 55.3 percent, while the Western Europe division revenue grew by 71.7 percent to PLN 351 million. Chinese market brought in PLN 60 million in revenue, up by 17.4 percent y/y.