A strong international appetite for the fast-food fare at Yum Brands Inc. fueled a 31 percent jump in the company’s first-quarter profit.
The parent of Taco Bell, KFC and Pizza Hut on Tuesday reported double-digit growth in operating profit at its China and international divisions for the three months ended March 22.The company also raised its full-year earnings forecast to $1.87 per share from $1.85 as its top executive predicted sustained expansion overseas along with a U.S. business which he said was positioning itself for sustainable growth.
Net income for the latest quarter rose to $254 million, or 50 cents per share, from $194 million, or 35 cents a share, in the year-ago period.
However, the company said its operating profit was curbed by sharply higher prices for ingredients like cheese, wheat and chicken.
Business » Yum Brands 1st-Quarter Profit Rises 31 Percent, Helped By Growth In… on April 23rd, 2008 at 3:33 pm
[...] Ya Libnan | Lebanon News Live from Beirut wrote an interesting post today on Yum Brands 1st-Quarter Profit Rises 31 Percent, Helped By Growth In…Here’s a quick excerpt87 per share from $1.85 as its top executive predicted sustained expansion overseas along with a U.S. business which he said was positioning… [...]