Yum! Brands, Inc. , a listed company in New York stock exchange, which owns three global restaurant brands like KFC, Pizza Hut and Taco Bell reported results for the fourth quarter ended December 31, 2016. Fourth-quarter GAAP EPS from Continuing Operations was $0.76, an increase of 15%.
Full-year GAAP EPS from Continuing Operations was $2.48, an increase of 18%. Fourth-quarter EPS from Continuing Operations excluding Special Items was $0.79, an increase of 19%. Full-year EPS from Continuing Operations excluding Special Items was $2.45, an increase of 5%.
“2016 was a landmark year for Yum! Brands,” said Greg Creed, CEO, Yum! Brands. “Not only did we complete the spin-off of Yum China as an independent and powerful growth company, but we also launched a new multi-year strategic transformation of Yum! Brands. By being more focused, more franchised and more efficient, we will strengthen and grow our KFC, Pizza Hut and Taco Bell brands around the world, creating significant long-term value for all our stakeholders. I’m encouraged by strong fourth-quarter results and early progress on unlocking growth through our four key drivers: Distinctive, Relevant Brands; Unmatched Franchise Operating Capability; Bold Restaurant Development; and Unrivaled Culture and Talent.”
As far as India market figures are concerned, in the fourth quarter the system sales grew by 16% compared to same period previous year. The system sales for the full year ended on December 31 recorded a growth of 7%.
Said Rahul Shinde, Managing Director, KFC India , “We are pleased with the positive sales momentum that we have demonstrated with a System Sales growth of 16% (quarter ending Dec ., 2016). This represents our second consecutive quarter of positive same-store sales growth. Over the last six months, we have driven growth by realigning our business structure and focusing on core offerings and relevant product innovations. In the wake of external factors like demonetization that affected the industry in the past few months, this is a reiteration of the confidence that consumers have shown in our brand. Our focus for the coming year is to sustain this growth and we are confident in our plans to drive this through continuous focus on innovation, value and our core products.”
Yum! Brands opened a total of 2,316 new outlets globally last year, this includes additional 1,086 KFC outlets, a net-unit growth of 3%.