Pursuits
Yum Profit Tops Estimates as KFC’s China Sales Drop Slows
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Yum! Brands Inc., owner of the KFC and Pizza Hut restaurant chains, posted second-quarter profit that topped analysts’ estimates as sales in China began to recover from the avian flu scare and a probe of a supplier.
Net income fell 15 percent to $281 million, or 61 cents a share, from $331 million, or 69 cents, a year earlier, the Louisville, Kentucky-based company said yesterday in a statement. Excluding some items, profit was 56 cents a share. The average of 22 analysts’ estimates compiled by Bloomberg was 54 cents.