Yum China achieved record revenue on the back of the opening of new stores last year – up 3 per cent – to US$11.3 billion, with net income up 10 per cent to $911 million.

Store count increased 12 per cent, or by a net 1751 new stores, 29 per cent of them opened by franchisees. Digital sales, which accounted for 90 per cent of company sales, stood at $9.6 billion.

Membership of KFC and Pizza Hut’s loyalty programs climbed 11 per cent to more than 525 million.

In the fourth quarter alone, revenue climbed 4 per cent to $2.6 billion and net income surged 18 per cent to $115 million.

“These results demonstrate the resilience of our business and the effectiveness of our strategy in improving sales and profitability amid challenging market conditions,” said Joey Wat, Yum China CEO.

“Our innovative measures – from menu evolution to the introduction of breakthrough business models like KCoffee Cafes and Pizza Hut Wow – have expanded our addressable market and increased our market share.”

For the new financial year, Wat says the company targets 1600 to 1800 net new stores and Yum China is on track to achieve its goal of 20,000 stores by next year.