Yum China Profits Rebound in Third Quarter Amid Strong Takeout Sales

What’s new: Fast food giant Yum China Holdings Inc. reported a 98% year-on-year rise in net profit attributable to shareholders to $206 million in the third quarter as takeout sales helped offset the impact of Covid-19 restrictions on dining-in, according to its financial statement published Wednesday.

The growth is a marked reversal from the previous two quarters, which recorded 54.1% and 56.5% year-on-year declines, respectively. Total revenue increased 5% to $2.7 billion. Same-store sales, which measures the performance of existing stores, were flat year-on-year from July through September, following four consecutive quarters of decline.