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Fast-food major Yum! Brands, which operates Pizza Hut and KFC restaurants in India, saw strong sales growth for the sixth straight quarter (October-December), pointing to recovery in food services. This is also the highest growth in six quarters for the two brands, indicating that their turnaround is on track, analysts tracking the market said. For the October-December period, both KFC and Pizza Hut reported a system sales growth rate of 18 per cent for India, the quarterly results declared by Yum! Brands on Thursday show.
Westlife Development, the master franchise of McDonald’s restaurants, has assigned a capex outlay of ₹120 crore for the next financial year. With plans of adding 25-30 restaurants in South and West India, the capex would also involve refurbishing its existing stores and brand extensions in its menus.
Westlife Development, which runs McDonald’s restaurants in the west and south of India, reported its tenth consecutive quarter of same-store sales growth (SSG), at 20.7 per cent for the three months ended December 2017 — among the highest in the domestic fast-food space. Year-on-year revenue growth was also high at 26.2 per cent, with the company posting its third straight quarter of positive profit after tax (PAT), coming at a time when McDonald’s restaurants in the north and east territories, led by Vikram Bakshi, have suffered on account of a dispute between the two partners.
Westlife Development, the owners of the master franchisee of McDonald's restaurants in the Western and Southern markets, returned to the black with a net profit Rs 7.75 crore for the quarter to December against a net loss of Rs 1.71 crore a year ago.
Investors sentiment remained weak on Monday as benchmark indices extended sell-off for the fifth consecutive session, dented by global weakness on worries that US inflation could rise faster than expectations. (65-0)
3:30 pm Market Closing: Benchmark indices closed sharply lower on Monday as the Sensex was down 309.59 points or 0.88 percent at 34,757.16, and the Nifty fell 94.10 points or 0.87 percent to 10,666.50, dragged by private banking & financials. (67-0)
10:20 am Results today: Tata Motors, Colgate Palmolive, Ujjivan Financial Services, Bosch, Ador Welding, Alkyl Amines, Astrazeneca Pharma, Century Plyboards, Cochin Shipyard, BASF, Cosmo Films, ENIL, Eveready Industries, Greaves Cotton, HUDCO, IFCI, Igarashi Motors, JSW Holding, Kalyani Steels, MM Forgings, Mcleod Russel, Mold-Tek Packaging, Omkar Specialty chemicals, Panama Petrochem, Sheela Foam, Timken, Themis Medicare, Tribhovandas Bhimji Zaveri, Usha Martin, Weizmann Forex and Westlife Development will announce earnings today. (46-0)
Benchmark indices closed rangebound session on a flat note but the broader markets corrected further on profit booking for second consecutive session Tuesday. (48-0)
New Delhi: If you live in north or east India, and have a fondness for the distinctive flavours of fast-food giant McDonald’s, it seems you’re going to have a problem. The company’s most popular desserts, the McFlurry, the McSwirl and Soft Serve, are at times unavailable in restaurants across the National Capital Region (NCR) centred on Delhi. Other popular products like wraps and burgers also drop in and out of availability.
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today -- CESC, 5Paisa, Suzlon Energy, Adani Enterprises, Wonderla Holidays, Automotive Axles, and Westlife Development. (1-0)
At a time when Mc Donald’s restaurants are shutting down in North India, Amit Jatia, Vice-Chairman, Westlife Development – the master franchise of McDonald’s in the West and South – is smug after the September quarter performance, as his company reported positive sales growth for the ninth consecutive quarter. Unlike Connaught Plaza Restaurants, its counterpart in the North and East, which is facing turbulent times with an alleged breach of franchise agreement with Mc Donald’s, Westlife Development is going strong, adding 25-30 outlets in its own territories.
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Mumbai: Westlife Development Ltd, which operates McDonald’s restaurants in western and southern India, Monday said its net profit in the September quarter rose 190.1% from a year ago to Rs2.07 crore on higher same store sales.
It was a dull day for the market on Monday as equity benchmarks ended mixed after hitting fresh record highs intraday, and following tepid global cues. Investors continued to focus on corporate earnings and crude oil price movement. (28-0)
Westlife Development is the Development Licensee for McDonalds’ South and West India business. The company, we believe, is well-placed to leverage the attractive Western Fast Food opportunity, which currently accounts for just about 2 per cent of India’s Informal Eating-Out market.