5 Mar 2010

Restaurant Brands boosted by rise in KFC sales

11:57 am on 5 March 2010

Strong sales at KFC and an improving performance at Pizza Hut, helped to boost business at Restaurant Brands.

The fast food operator, which also owns the Starbucks chain, says same store sales for the three months to the end of March were up 6.7% on the same period the previous year - to $74 million.

Same store sales rose 9.4% at KFC, which accounts for 70% of the group's revenues. Pizza Hut sales climbed 2.6%. But sales at Starbucks fell by 3.1%.

Restaurant Brands on Thursday lifted its profit forecast and now expects a full year profit of about $19.5 million, an increase of two-thirds of the previous year.

Chief executive Russell Creedy, says Pizza Hut has had a very encouraging turnaround, partly due to the launch of new products.