KFC, Starbucks & Pizza Hut franchise operator ‘Restaurant Brands’ told shareholders on this month that  its annual profit is expected to be about $12 million.

“The current economic environment, whilst challenging, has not impacted our sales as adversely as originally anticipated,” said chairman Ted van Arkel.

“There is life in a recession and Restaurant Brands’ performance in 2008/09 is testimony to that,” was the comment from CEO Russel Creedy.

The successful profit was driven by a strong performance from KFC.   Mr Creedy said a new agreement with franchisor Yum! Restaurants International allowed much more flexibility in closing under performing Pizza Hut stores.

Source:  www.foodworks.co.nz