Collins Foods shares tumbled ~18% following the release of its 1H FY2023 results

Collins Foods Limited (ASX: CKF) has reported a 15% growth to in its revenue for 1H FY2023 ended 16 October 2022 with growth across all business units.

• Statutory EBITDA increased from AU$92.5 million in 1H FY2022 to AU$93.4 million in 1H FY2023.
• Underlying EBITDA increased 0.5% to AU$95.4 million.
• However, statutory NPAT declined from AU$26.4 million in 1H FY2022 to AU$11.0 million in 1H FY2023. It includes AU$11.9 million, after tax, non-cash impairment of 8 Taco Bell restaurants.
• Underlying NPAT declined 14.2% to AU$24.8 million.
• The Company also witnessed a drop in the net operating cash flow from AU$72.3 million in 1H FY2022 to AU$69.1 million in 1H FY2023.
• CKF announced a fully franked dividend of 12.0 cents per ordinary share.

At AEDT 12:03 PM, CKF shares are trading at AU$8.230, down 18.027% from its previous close.

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