Taco Bell may still be having a rough time at home, but Yum Brands Inc. is riding high -- and it has China to thank.
The company, which also owns Pizza Hut and KFC, reported a 30% surge in fourth-quarter income due largely to explosive growth abroad. Yum of Louisville, Ky., said it earned $356 million over the period, compared with $274 million from a year earlier.
Revenue was up 15% to $4.1 billion for the quarter.
Income was up 14% for the year that ended Dec. 31 to $1.3 billion. Revenue for 2011 jumped 11% to $12.6 billion.
In China, where Yum has made a concerted effort to expand this year, same-store sales for 2011 grew 19%. In the U.S., the same measure was down 1%. The company’s various chains opened a record 656 new restaurants in the Asian country over the year.