The owner of KFC – Yum Brands, reported slightly better than expected profit for the second quarter. This supports the company’s shares and in the post-trade they recorded growth of 4% after the publication of the results. Since the beginning of the year, shares in the group rose by 17%. Yum reported adjusted earnings of 75 cents per share for the period and just over 3 billion USD in revenue. Analysts expected earnings of 74 cents a share, but slightly higher revenues. The sales of existing objects chain remain unchanged for the period. KFC’s sales only recorded relatively modest growth – 2%, with an expected increase of 2.3%.
Unchanged and sales are the objects of the company in China, which coincides with the forecasts of analysts. However, the company increased its forecast for growth in operating profit for the whole of 2016 to 14%. The previous forecast was for a 12% increase.
China represents a significant part of the business of Yum Brands, although the company plans to release his special unit. He remained its largest division by revenue, it has brought nearly 1.6 billion USD in the second quarter.
Expectations for the business chain in China for 3% sales growth for the full year.