Guzman y Gomez Ltd (GYG) has reported above-expectation comparable sales growth in its Australia segment for the first quarter of the 2025 financial year (July 1 to September 30, 2024).
GYG has a market capitalisation of nearly $4 billion and booked first-quarter sales in Australia of $260.2 million, up from $214.8 million over the same period last year.
Total sales rose to $278.8 million from $230.9 million a year earlier.
The company remains on track to hit prospectus forecasts for earnings in 2025. Guzman y Gomez is forecasting fiscal 2025 sales of $428.2 million, earnings of $59.9 million and a net profit of $6 million.
Several growth drivers
The growth was driven by strong delivery performance, the successful implementation of the ‘Clean is the New Healthy’ campaign and increased demand for value menu options such as the $12 Chicken Mini Meal.
GYG's US segment performed in line with expectations, though the prior corresponding period had benefited from higher initial sales due to new restaurant openings.
Looking ahead, GYG anticipates meeting its 2025 financial year forecasts as outlined in its prospectus, which includes the planned opening of 31 new restaurants in Australia.