Pizza Hut 2003 Annual Report Download - page 13

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rising star
China continues to be our Rising Star, driving double-
digit sales growth for the fifth consecutive year and
record operating profit up over 42% in 2003.
I
n 2003, we celebrated the openin
g
of our 120th Pizza Hut restaurant and recently, the openin
g
of our 1,000th KFC — and we
c
ontinue to add over 200 restaurants a year. KFC is
the
leading restaurant brand in China and is widening the gap between
o
ur nearest competitor. In
f
act, a J.D. Powers survey two years ago rated KFC as the leading brand in any category — amon
g
e
very company do
i
ng bus
i
ness
i
n
C
h
i
na! And we’re proud P
i
zza Hut also has become the leader
i
n the casual d
i
n
i
ng category.
W
e also opened our first Taco Bell Grande restaurant in 2003, introducin
g
the Chinese people to the
g
reat taste of Mexican
f
ood! All of this pro
g
ress, and we aren’t even close to reachin
g
our full potential there. There’s no doubt in our mind that
C
hina is going to be a global economic powerhouse for the longer term. In fact, we want to be the dominant Quick Service
R
estaurant leader in every major category in China, and we have the in
f
rastructure and the leaders to make sure that our
s
tar cont
i
nues to r
i
se!
Asia has become a dominant market-
place for Yum! Brands products. While
Pizza Hut and KFC are long-time
players in Asia, Taco Bell strengthened
its position in the market in May 2003
with the opening of its fi rst Taco Bell
in China — a table-service restaurant
called Taco Bell Grande.
Above right: Sam Su (center), President,
Yum! Restaurants China, helps celebrate
the 1,000th KFC in that country.
11.