Yum Brands profit rises 5% on acquisitions

  • Business
  • Wednesday, 12 Feb 2003

CHICAGO: Yum Brands Inc, parent of the Pizza Hut, Taco Bell and KFC fast-food chains, has posted a small 5% rise in quarterly earnings, helped by acquisitions, a lower tax rate and higher sales at locations offering food from more than one brand. 

Facing stiff competition in the US fast-food market, Yum Brands has been trying to attract more consumers by installing restaurants that feature several of its brands.  

For its fourth quarter to end-2002, Yum Brands, the No. 2 restaurant company behind McDonald’s Corp, a profit of US$172mil, up from US$164mil a year earlier. Revenue, including sales and franchise fees, rose 12% to US$2.46bil. System-wide sales, which include both franchised and company-operated units, rose 9% to US$7.6bil.  

Yum Brands operates some 33,000 units worldwide in more than 100 countries and territories. 

The company, formerly known as Tricon Global Restaurants, said its purchase last year of the Long John Silver’s and A&W All-American Food chains contributed significant growth to US sales. – Reuters  

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