Profits soar at Pizza Hut owner

Yum Brands, the owner of the Pizza Hut, Taco Bell and KFC fast-food brands, said its third-quarter profit grew 7% on the strength of surging overseas sales, mainly in China.

Buoyed by its performance, the company raised its forecast for full-year earnings to $2.48 (€1.79) per share from $2.43 per share.

Yum shares fell nine cents in aftermarket trading, perhaps because the company said its US operating profit fell 2%, dragged down in part by sluggish sales at KFC.