Sphera Franchise Group, which owns the KFC, Pizza Hut and Taco Bell franchises in Romania, recorded consolidated sales of RON 552 million (EUR 119 million) in the first nine months of this year, up by 23.4% compared to the pro-forma sales in the same period of 2017, the group announced.

In the third quarter, the group’s turnover went up by 26.6% year-on-year, due to higher like-for-like sales in the local KFC restaurants and a higher contribution from KFC restaurants in Italy. Pizza Hut sales also increased.

The operating profit from the restaurant business thus went up by 8.7% in the first nine months, to RON 74.6 million (EUR 16 million), but the net profit went down 23%, to RON 32.4 million (EUR 7 million), due to higher administrative expenses, the company’s report shows.

The group continued its expansion by opening 13 new restaurants in the first nine months of this year, reaching a total of 126 restaurants at the end of September. Since then, the group has opened another five restaurants, reaching 131 units, according to a presentation for investors.

editor@romania-insider.com