Yum China Revenue Up 22% In Q3 2012October 17, 2012 | By ChinaRetailNews.com Editor | Print | Email
International food and beverage group Yum announced that its sales in China region reached USD2 billion in the third quarter of 2012, accounting for 56% of the total operating revenue of the group.
Meanwhile, the company's sales in China represented a year-on-year increase of 22%, which was much higher than the overall 6% increase of the group.
According to statistics published by Yum, by the third quartered ended September 28, 2012, Yum's sales were USD3.57 billion, exceeding the USD3.27 billion sales in the same period of last year. During the reporting period, the operating condition in China was very optimistic and the group opened 192 new outlets in the marketplace, reaching a total of over 750.
Yum entered the Chinese market in 1987 and so far, it has developed over 5,000 restaurants in mainland China. In November 2011, Yum announced that it would cooperate with China's Sinopec to distribute restaurants at gas stations, highway service areas, and other real estate owned by Sinopec over the next five years. In February 2012, the group acquired the Chinese hotpot chain Little Sheep.
At present, China is the fastest growing market for Yum. Zhu Zongyi, president and chief operating officer of Yum China, said that the Chinese market is the core for Yum worldwide. In the future, the group will continue to increase investment to support its development in China.
Prior to this, Yum announced that it would add 600 new restaurants in China in 2012.