The company’s same-store sales rose by 15% in the latest quarter, with KFC reporting an increase of 15%. Credit: Patcharaporn Puttipon4289 via Shutterstock.com.

Yum China Holdings has reported a net income of $197m for the second quarter of 2023, a surge of 138% compared with $83m a year ago.

For the quarter which ended on 30 June 2023, the company’s total revenues were $2.65bn, an increase of 25% compared to $2.13bn in the same period a year ago.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Yum China’s adjusted net income for the quarter was $199m, up 137% from $84m in the second quarter of 2022.

The company said that its operating profit for the period was $257m compared to $81m a year ago. The surge in operating profit was primarily driven by sales leveraging and margin expansion.

During the quarter, the company’s total system sales surged 32% year-over-year, with KFC and Pizza Hut delivering a growth of 32% and 30%, respectively.

Yum China noted that the growth was due to same-store sales, new unit contribution and the lapping of temporary store closures a year ago.

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.

Company Profile – free sample

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
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Same-store sales rose by 15% in the latest quarter, with KFC reporting an increase of 15% and Pizza Hut posting 13% growth.

In the latest quarter, the company’s restaurant margin was 16.1% against 12.1% in 2022.

During this quarter, Yum China Holdings’ diluted earnings per share (EPS) grew to $0.47 from $0.20 a year earlier.

It opened a total of 422 net new stores during the quarter, thereby increasing its total store count to 13,602 as of 30 June 2023.

Yum China CEO Joey Wat said: “We achieved outstanding results, delivering substantial growth in the top-line and bottom-line in the second quarter, thanks to our teams’ dedication and creativity.

“This once again demonstrates our anti-fragile business model and ability to capture opportunities in good times and stay resilient in bad times. Our innovative products and compelling value captured customer demand and drove double-digit same-store sales growth.

“We accelerated the pace of new store openings in the second quarter and celebrated two milestones. Pizza Hut surpassed 3,000 stores in China and KFC exceeded 500 stores in Shanghai alone.”