KFC operator Yum China beats earning expectations

AFP, BEIJING: Yum China, the operator of fast-food giants KFC, Pizza Hut and Taco Bell in the country, beat earnings expectations in its first report since spinning off from its US parent.
The firm said operating profit for 2016 hit $640 million in China, up 31 per cent from 2015 when it was a unit of Yum Brands.
The growth came as Yum added 575 new restaurants over the year—with more than half coming in the final three months—bringing its total in the country to more than 7,500.
“We believe the majority of our restaurants in China are yet to be built,” CEO Micky Pant said in a statement posted with the results on Tuesday. “Right now, our top priority is consistently delivering positive same-store sales growth.”
Same-store sales expanded three per cent at KFC but Pizza Hut’s performance fell seven per cent, it added. 

KFC operator Yum China beats earning expectations

AFP, BEIJING: Yum China, the operator of fast-food giants KFC, Pizza Hut and Taco Bell in the country, beat earnings expectations in its first report since spinning off from its US parent. The firm said operating profit for 2016 hit $640 million in China, up 31 per cent from 2015 when it was a unit of Yum Brands. The growth came as Yum added 575 new restaurants over the yearwith more than half coming in the final three monthsbringing its total in the country to more than 7,500. We believe the majority of our restaurants in China are yet to be built, CEO Micky Pant said in a statement posted with the results on Tuesday. Right now, our top priority is consistently delivering positive same-store sales growth. Same-store sales expanded three per cent at KFC but Pizza Huts performance fell seven per cent, it added.