Tasty earnings at Yum Brands as China tucks into KFC and pizza

Kate McCann
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KFC parent company Yum Brands last night posted healthy first quarter results, largely in line with analyst expectations.

The group revealed net income of $399m, up from $337m (£237m) in the first quarter of 2013. Revenue was $2.72bn for the quarter, which narrowly missed predictions of $2.79bn.

Results in China were strong, despite concerns over food safety and bird flu, but the Chinese New Year holiday did not provide a significant boost. KFC growth was 11 per cent and Pizza Hut saw an eight per cent rise. “We experienced disappointing US results, which were impacted by unusually severe weather,” chief executive David Novak added yesterday.

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