Yum Brands profit growth hit by higher China costs
July 19 , 2012
Yum Brands, which runs the KFC, Pizza Hut and Taco Bell restaurant chains, has seen a drop in its profit growth due to higher costs in China.
The company’s second-quarter profits rose by 5 percent to $331 million compared to $494 million in the same period last year.
Yum said its Chinese earnings were hit by higher wage and food costs.
In recent months, China's economic growth has been waning, and there are concerns that this will dampen profits at multinational firms.