Yum brands predicts profit growth for 2009

Fast-food company Yum Brands Inc. on Wednesday predicted solid 2009 profit growth overseas and in its sluggish U.S. business as the operator of KFC, Taco Bell and Pizza Hut expressed confidence in weathering economic turbulence. "We'd obviously rather operate in better economies, but we can survive in most any economy," Yum Chairman and Chief Executive David C. Novak said in a conference call with industry analysts. Yum executives predicted the Louisville-based company would achieve at least 10 percent earnings-per-share growth next year on the strength of fast-paced restaurant openings overseas, improved U.S. cost management and sales growth. Yum executives said they would offer details about cost management efforts later in the year. As usual, Yum predicted the burgeoning China division will lead the way next year. The... [read full story]