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Tue 8th Sep 2015 - KFC UK PBT nears £50m, seeks 400 sites
KFC UK PBT nears £50m, seeks 400 sites: KFC UK has reported turnover rose to £478,123,000 in the year to 30 November 2014, up from £446,400,000 the year before. Pre-tax profit increased to £47,323,000 compared to £40,112,000 in the previous year. The company stated: “The business has continued to grow this financial period. Against the tough macro-economic climate we have continued to develop our new products and new sales layers, whilst strong advertising and continued investment in enhancing and maintaining our restaurant estate have helped to deliver a 7.1% increase in sales to £478.1m (2013: £446.4m). Operating profit margin of 10.3% has increased slightly when compared to that of the prior year (2013: 9.5%) due to increase in other operating income to £6.5m (2013: £4.5m) mainly attributable to gains on re franchising, along with other cost saving initiatives implemented across the business during the year under review and as a result we have delivered an operating profit of £49.0m (2013: £42.5m). The company has net assets of £171.8m as at the end of the 2014 financial period. The Quick Service Restaurant industry remains a strong competitive environment within a difficult economic climate. As a business we continue to invest in new stores and our existing estate, new product layers and are continuously looking at new and innovative design and trade concepts that drive increased transactional market share and sales year-on-year. A key element of our ongoing strategy is to review our estate to identify where franchise ownership represents greater growth potential for the brand in our market. This is a positive indication of our plans to focus our resources for future growth and to enable franchisee to grow and add value, especially where there are synergies with adjacent ownerships and assets.” Meanwhile, KFC has said is on the hunt for more than 400 new sites across the UK. The company is seeking a mix of restaurant, express/takeaway, food court and drive-thru locations and pays finders fees of £20,000 for recognised drive-thru sites. Its biggest target area is London where it is looking for 83 locations.

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