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Restaurant Brands' profits slump

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Restaurant Brands' profits slump

| Business News | Friday June 29 2012 12:30

Restaurant Brand's profits are down 27 percent to $18 million.

The operator of KFC, Pizza Hut and Starbucks Coffee says the result reflects a tough trading environment and higher input costs, particularly with items such as chicken and cheese.

KFC continues to be the primary driver of the companyâ s financial performance last year, contributing 77 percent of group sales.

The company says the Pizza Hut business continues to struggle in a competitive and tough retail environment, with revenue down 23 percent.

Photo: Getty Images

 

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