Yum Brands booked higher revenues on the back of improved sales at its KFC and Taco Bell businesses.
The group’s total revenues grew 7 per cent to $1.83 billion with KFC’s revenues increasing 12 per cent to $785 million with the opening of 685 gross new restaurants across 65 countries.
Taco Bell rose 6 per cent to $666 million on the back of 49 gross new restaurants across 15 countries.
However, Pizza Hut’s fell 1 per cent to $238 million despite the opening of 292 gross new restaurants across 36 countries, due to unfavorable foreign currency translation.
Meanwhile, Habit Burger and Grill also opened three gross new restaurants during the period.
Worldwide system sales grew 1 per cent, with KFC up 1 per cent, Taco Bell up 5 per cent, and Pizza Hut down 1 per cent. Same-store sales decreased 4 per cent for both KFC and Pizza Hut but rose 4 per cent for Taco Bell.
“While sales have been impacted by pressures relating to geopolitical conflicts and challenged consumer sentiment, our iconic brands which are led by our world-class talent and enabled by Yum’s unmatched scale and cutting-edge, proprietary tech, are positioned for unstoppable growth,” said David Gibbs, Yum Brands CEO.
