July 13, 2009
KFC Japan forecast fiscal 2009 net profit to reach US$22.5 million
Kentucky Fried Chicken (KFC) Japan is expecting a net profit of JPY2.1 billion (US$22.5 million) for the current fiscal year on a strong takeout business, up JPY900 million from its earlier forecast.
The fast food restaurant chain operation changed the end of its accounting period from November to March, so the current fiscal year is a 16-month period. The 12-month equivalent of the latest net profit projection is more than triple the result for fiscal 2008.
KFC Japan also boosted its sales forecast by JPY400 million to JPY128.2 billion due to the popularity of new menu items. Same-store sales at fried chicken restaurants during the 12 months through November 30 are expected to grow six percent.
Same-store sales at the firm's Pizza Hut outlets are projected to rise five percent over the 12-month period.
Groupwide, the company projects an operating profit of JPY4.9 billion. It intends to curb personnel costs by revising its shift management manual. Pretax profit is forecast at JPY5 billion.
US$1 = JPY92.5833 (Jul 13)
