Recently, Yum China released its second quarter 2024 financial results

[Rina77RS]

The company's total revenue increased by 1% year-on-year to US$2.679 billion. Excluding the impact of foreign currency conversion, the total revenue may increase by 4% year-on-year; net profit increased by 8% year-on-year to US$212 million. Excluding the impact of foreign currency conversion, the net profit may increase by 11% year-on-year. In the first half of this year, Yum China's total revenue was approximately US$5.637 billion, a year-on-year increase of 1%.

As of June 30, 2024, Yum China has a total of 15,423 stores, including 10,931 KFC stores and 3,504 Pizza Hut stores; in the second quarter, more than 400 new stores were added, including 328 KFC stores whatsapp number in australia and 79 Pizza Hut stores. The total number of members of KFC and Pizza Hut exceeds 495 million.

In the second quarter, KFC's total revenue was approximately US$2.014 billion, a year-on-year increase of 2%; system sales increased by 5% year-on-year; takeaway sales increased by 12% year-on-year, accounting for approximately 38% of KFC restaurant revenue. Non-dine-in business accounts for approximately 67% of KFC restaurant revenue.



In the second quarter, Pizza Hut's total revenue was approximately US$540 million, down 2% year-on-year, and system sales increased 1% year-on-year; takeout sales increased 6%, accounting for approximately 38% of Pizza Hut restaurant revenue, and non-dine-in business accounted for approximately 48% of Pizza Hut restaurant revenue.

Yum China CEO Teresa Wat said the company achieved its most profitable second quarter since its spin-off and listing. Yum China said its fiscal 2024 goals remain unchanged, including a net increase of approximately 1,500 to 1,700 new stores.