Yum Brands, which owns food chains Pizza Hut and KFC, has seen shares fall by more than 17% after it reported poorer-than-expected results in the three months to September 5th and cut forecasted growth in its key Chinese market.
The firm blamed a stronger US currency against the yuan, but the effects of a food scandal, which hit a key supplier last year are also still lingering.
Outside of China, Taco Bell and KFC continued to sustain their positive sales momentum, whilst Pizza Hut was “relatively flat”.
