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Brazil Fast Food Corp., a Yum! Brands franchisee and the second largest quick-service restaurant chain in Brazil, has announced financial results for the first quarter ended March 31.
Highlights include a systemwide sales jump of 15.3 percent from the first quarter 2010, and a revenue increase of 9.7 percent.
EBITDA was up 43.4 percent from the same period in 2010 and operating income jumped 113.1 percent. Finally, in Q1 '11, net income increased 125 percent from last year.
Brazil Fast Food had 781 points of sale as of March 31, up from 737 at the same time last year.
"We are very pleased to report strong first quarter results, highlighted by meaningful operating margin improvement and robust net income growth. Our solid start in 2011 reflects our strategy to focus on our most profitable company-owned stores while growing our industry leading brands through new franchise relationships in favorable locations throughout Brazil," said Ricardo Bomeny, president and CEO of Brazil Fast Food. "The outlook for our business for the rest of the year remains positive, and we will continue to invest in our brands in the quarters ahead."
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