LOUISVILLE, Ky. (AP) -- THE RESULTS: Fourth-quarter net income at Yum Brands Inc. rose 30 percent on robust overseas growth and a rebound at Pizza Hut in the U.S.
OVERSEAS SURGE: Yum added 656 new restaurants in China during 2011 and 905 in 81 other foreign countries. Fourth-quarter operating profit in China rose 15 percent, adjusted for currency fluctuations. KFC has become a dominant fast-food brand there. In the international division excluding China, operating profit rose 12 percent, adjusted for currency fluctuations.
U.S. PERFORMANCE: Operating profit rose 10 percent, thanks to stronger sales at Pizza Hut. The pizza chain reported a 6 percent gain in revenue at its restaurants open at least a year. Revenue at Taco Bell fell 2 percent at stores open at least a year, and at KFC stores revenue was down 1 percent. Outside China, Yum's profit benefited from the quarter being a week longer than it was last year.
There are no comments yet