US fastfood giant Yum! Brands has reported higher profit and revenues for the third quarter and said it was raising its full-year earnings estimate.
Go deeper with GlobalData
The company reported net income of US$214m, or 72 cents per share, for the third quarter to 3 September, compared to $185m, or 61 cents per share, for the year-ago period. Total revenues were $2.24bn, compared to $2.18bn in the third quarter of the previous year.
The company said worldwide system same-store sales grew by 2% in the third quarter compared to the year-ago quarter, while systemwide US same-store sales increased 4%.
David Novak, chairman and CEO, said that based on the company’s third-quarter results it is raising its 2005 full-year EPS estimate to $2.64 or 12% growth prior to special items.
“We continue to aggressively expand outside the United States and expect to exceed our full-year target of over 1,100 new restaurants. This includes a record number of new-restaurant openings from our China division where we fully expect to exceed our 2005 target of 375 openings. We are especially pleased that our third-quarter US blended same-store sales increased 4%, lapping our strongest quarter last year, which is the best performance in five years. We expect 4% US blended growth for the full-year 2005,” Novak said.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
