Brazil Fast Food Corp., which operates almost 800 Yum! Brands units in Brazil, including KFC and Pizza Hut São Paulo, announced financial results for the fourth quarter and fiscal year ended Dec. 31.
For the year, systemwide sales were up 12.3 percent from 2009, while revenue was up 11.6 percent.
Unit counts also increased year-over-year, from 681 in 2009 to 789 at the end of 2010. Aided by this boost in points-of-sale, operating income was up 60.1 percent from 2009.
Fourth quarter and beyond
The fiscal fourth quarter also yielded positive results, including a 12.5 percent rise from the same period last year. Revenue was up 7.8 percent, while operating income increased by 17 percent.
“We are very pleased with our results for the quarter and for the fiscal year 2010 as we continued to grow at a solid pace while improving our operating and net margins,” said Ricardo Bomeny, president and CEO of Brazil Fast Food. “Clearly, our multi-brand strategy is paying off as we now have three industry leading brands, and a more balanced revenue base, which gives us strategic flexibility to continue to evaluate and invest in new concepts to accelerate our profitable growth.”
The company expects to benefit from spending associated with the infrastructure build-out to support the World Cup and the Olympics, which will be hosted in Brazil in 2014 and 2016, respectively.
