Tricon 4th-Quarter Profit Rises 28%
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Tricon Global Restaurants Inc., owner of the Pizza Hut, KFC and Taco Bell chains, said fiscal fourth-quarter profit jumped a better-than-expected 28% and said the current quarter will exceed forecasts as the company expands overseas.
Net income grew to $164 million, or $1.08 a share, as revenue rose a slight 0.9% to $2.2 billion. Analysts were expecting earnings of $1.04.
Tricon said fiscal first-quarter earnings will be 74 cents to 78 cents a share, up from 59 cents a year ago and well beyond analysts’ expectations of 69 cents.
Shares of Louisville, Ky.-based Tricon fell 19 cents to close at $54.31 on the NYSE. Results were released after the close of regular U.S. trading.
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