16 Dec 2009

KFC sales up

9:54 pm on 16 December 2009

Strong sales at KFC continue to boost business at Restaurant Brands.

Restaurant Brands, which runs KFC, Pizza Hut and Starbucks, made $72.9 million in sales in the third quarter, up 4.7% on the same time last year. Same store sales increased 7.2%.

The company says the current economic climate is not adversely affecting its growth, with sales increasing by similar amounts in the last two quarters.

Sales at KFC rose 7.4% to $51.4 million.

However, Pizza Hut's sales fell by 0.1%, to $14.6 million, but same store sales climbed by almost 2%.

Sales at Starbucks fell by 2.8% to about $7 million, but the company says demand for coffee and food is showing signs of improvement, and pricing changes and promotional activity beginning to bear fruit.

Restaurant Brands expects to make an after-tax profit of about $17.5 million in the year to February, up 50% on last year's result.