Yum Brands Inc., operator of Taco Bell, KFC, Pizza Hut and other fast-food chains, said that fourth-quarter earnings grew 3 percent, helped in part by sales growth in China. Quarterly net income totaled $232 million, or 83 cents a share, from $226 million, or 77 cents a share, during the prior-year period. Revenue grew 4 percent to $3.01 billion, from $2.9 billion in the year-earlier quarter.
Yum said the main reason same-store sales fell in the United States was a 5 percent drop at Taco Bell. Sales were hurt by an outbreak of E. coli at several Taco Bell stores.
Meanwhile, the company said China division sales grew 23 percent in local-currency terms because of expansion of KFC and Pizza Hut brands in mainland China.
For the year, profit grew 8 percent to $824 million, or $2.92 a share, from $762 million, or $2.55 a share, in 2005. Revenue grew 2 percent to $9.56 billion from $9.35 billion.
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