4 Mar 2010

Restaurant Brands lifts profit forecast

1:24 pm on 4 March 2010

Shares in Restaurant Brands - the owner of KFC, Pizza Hut and Starbucks, rallied on Thursday after the company upgraded its full year profit forecast.

The group says sales at takeaway chain KFC have been particularly strong, and a new pricing agreement with a major supplier will result in an annual profit of around $19.5 million dollars.

That would be 67% higher than last year's result.

The company's shares to rose 21 cents to $2.03 at about midday.