May 6, 2020
Yum China which operates KFC and Pizza Hut chains in the mainland announced first quarter profit despite Covid-19 disruptions. While revenue decreased 24%, the company reported an operating profit of USD 97 million. This was achieved despite extending support to staff and franchisees, whose income was affected by store closures during the pandemic. Total sales were USD 1.75 billion, down from USD 2.3 billion. The company opened 179 new stores during the March quarter, mostly prior to the Lunar New Year – extending its store count to 9295 across more than 1400 cities.