South Pacific Pizza Hut, KFC franchisee posts strong '03 revenue

Feb. 19, 2003

KUALA LUMPUR, Malaysia -- KFC Holdings (KLSE:KFCK), franchisee of Pizza Hut and KFC restaurants in Malaysia and Singapore, reported Feb. 20 that its revenue was RM1.25 billion (U.S. $329 million) for the financial year ended Dec. 31, 2002. The change represented an increase of 16.5 percent over the previous year's ringgits 1.07 billion (U.S. $282 million).

According to Asia Pulse, profits before taxes were ringgits 98.7 million (U.S. $26 million) in fiscal 2002, compared to the previous year's ringgits 81.1 million (U.S. $21.3 million).

In a release the company credited new products such as Pizza Hut's Sesame Surprise Pizza and Sausage Stuffed Cheesy Crust Pizza, as well as improved marketing, for the increases.

For the fourth quarter, ended Dec. 29, revenues were ringgits 346.1 million (U.S. $91 million), compared to ringgits 331.9 million (U.S. $87.4 million) in the same period a year before.

Profits before taxes during the period were ringgits 30.2 million (U.S. $7.9 million), up from ringgits 17.7 million (U.S. $4.7 million) in the previous quarter.

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Topics: Public Companies

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