Shanghai-based restaurant operator Yum China has reported a 25 per cent year-on-year growth in revenue for the quarter ended June 30, generating US$2.65 billion. 

Net income for the period surged to $197 million year on year from $83 million due to the increase in operating profit, which jumped 216 per cent. The company said the growth was mainly attributable to same-store sales, new unit contribution, and lapping of temporary store closures in the prior year.

“Our operating profit for the first half of this year already exceeded the entire year of 2022,” said Joey Wat, CEO of Yum China. “We are on track to meet our expansion goals for the year. Importantly, new store payback periods remain healthy.”

As of June 30, Yum China operates 13,602 stores, including 422 net new stores during the quarter. CFO of Yum China, Andy Yeung, said the same-store sales however remained below 2029 levels. 

“As we move into the third quarter, driving sales remains our top priority,” said Yeung. “We have lined up exciting marketing campaigns and resources to seize sales opportunities in the peak summer season.

Further reading: China hotpot chain Haidilao soars on surge in first-half profit.