Guzman y Gomez Profit Beats Forecast in First Earnings Since IPO

Australia’s Guzman y Gomez Ltd. reported a surge in full-year profit, outperforming its prospectus forecast after the Mexican-themed fast-food chain’s bumper June debut.

The Sydney-based company reported pro forma net profit after tax of A$5.7 million ($3.9 million) for the 12 months ended June 30, 71% ahead of its prospectus target and up 94% on the prior year, it said in a statement on Tuesday. Global network sales jumped 26% to A$959.7 million, driven by comparable restaurant sales and network expansion.

Employees prepare food at a Guzman y Gomez restaurant in Sydney.

Photographer: Brent Lewin/Bloomberg

“Strong sales growth and ongoing margin expansion resulted in significant growth in earnings, exceeding prospectus forecasts,” Co-Chief Executive ...