Shares in Restaurant Brands have risen to their highest level in more than 12 years after the company raised its profit forecast for this financial year by up to 30%.
At its annual meeting in Auckland, Restaurant Brands chairman Ted van Arkel told shareholders it expects to make between $24 million and $26 million in the year to February, compared with $19.9 million last year.
Restaurant Brands is still interested in rolling out Taco Bell here, starting in Auckland, but chief executive Russel Creedy says KFC, which generates nearly three-quarters of the company's sales, remains its star performer.
The popularity of fried chicken has grown among the lunchtime business crowd, he says.
Mr Creedy says recent lacklustre performances at its Pizza Hut and Starbucks chains have been reversed.
The share price was up 8c to $2.38 by close of trading on Thursday.
