Yum enjoys strong Q3 China growth
Updated: 2012-10-10 21:38
Yum Brands Inc, which runs KFC, Pizza Hut and Taco Bell fast-food restaurant chains, has seen its third quarter figures boosted by a strong performance in China.
The results, ending September 8, 2012, showed worldwide operating profit grew 18 percent year-on-year.
The company said that China contributed more than half of Yum's $3.6bn revenue during the period.
Profits in the Chinese business had dropped in the second quarter because of higher costs, but they rebounded in the third quarter rising by 22 percent, against 13 percent in the US, compared with the same time in 2011.
Worldwide sales grew 6 percent year-on-year, including 22 percent in China and 1 percent in the US.
Worldwide restaurant margins increased 1.9 percentage points to 18.9 percent compared with a year earlier, including increases of 0.1percentage points in China, and 4.6 percentage points in the US.
In the third quarter, China opened 192 new restaurants, around half of those opened globally.