Collins Foods Ltd

CKF: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$13.10	Twkyk	Nthcmxs

Collins Foods: Margin Recovery Taking Longer Than Expected

Johannes Faul

Aug 22, 2024

We lower our fair value estimate for no-moat Collins Foods by 6% to AUD 13.50 on a weak trading update. In the first 16 weeks of fiscal 2025, same-store sales in the core KFC Australia segment are essentially flat on the previous corresponding period, or PCP. Top-line growth of 3% for the segment was supported by the rollout of new stores.

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