Yum Brands slashes profit forecast again
December 10 , 2014
Yum Brands, which owns the KFC and Pizza Hut restaurant chains, has again cut down its year’s profit forecast after slower sales in the China market.
The American firm said its profit growth for the full year is expected to be a “mid-single-digit” percentage, lower than the October forecast of 10%.
Earlier this year, the company had forecast a growth of 20%.
A food safety scandal in China has contributed to the lower sales, reports say.