KFC, Pizza Hut operator in Romania expecting sales decline
The company also suspended its development plans this year.
The operator of KFC, Taco Bell, and Pizza Hut restaurant franchises in Romania estimated that its sales will decline by 44% this year compared to 2019, to RON 537 mln (EUR 111 mln).
Sphera Franchise Group’s operating profit also dropped by 77.6%, to RON 34.3 mln (EUR 7.1 mln), according to its 2020 budget planning approved by shareholders and published on the company's website.
The operator reported consolidated sales of RON 198.3 mln (EUR 28.6 mln) in the first quarter of the year, down 7.6% compared to the same period in 2019, citing closures or limitation of restaurant activity imposed by the authorities in the countries where it operates.
About half of the company's 154 restaurants are currently open. The company also suspended its development plans this year.
Sphera Franchise Group operates in Romania, Italy and Moldova.
