Pizza Hut's sales dropped by 2% and revenue at both chains fell in the US.
For the year, KFC opened 1,247 new international restaurants in 84 countries, 1,042 of which were opened in emerging markets.
Across the company, fourth quarter like-for-like sales we up 2% as operating profit dropped by 6%, a fall put down to the unfavourable impact of foreign currency translation.
Greg Creed, YUM! chief executive officer, said, “As we close the first full year of our transformation, I am very proud of the progress we are making towards becoming a more focused, more franchised and more efficient company that generates more growth. During 2017, system sales grew a healthy 5% excluding the impact of lapping the 53rd week in 2016, with same-store sales growth of 2% and net new unit growth of 3%."
David Gibbs, president and chief financial officer, added “The fourth quarter was a solid ending to a year where Yum! Brands met our exceeded each component of our full-year guidance. Despite headwinds from refranchising dilution and lapping a 53rd week, we delivered full-year core operating profit growth of 7%.
“We are on track with our strategic transformation to accelerate growth and made significant progress towards achieving these objectives in 2017," he added.
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