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KFC to open 40 new stores next year

Written by Meenaa on Wednesday, November 19th, 2008

KFC to open 40 new stores next year

Publicly listed food franchise company PT Fast Food Indonesia plans next year to open 40 new stores for the U.S.-fast food outlet Kentucky Fried Chicken (KFC) in a bid to meet a sales growth target of between 16 percent and 19.6 percent.

The company said in a statement to the Indonesia Stock Exchange (IDX) Tuesday that it had projected sales to reach Rp 2.42 trillion (US$206 million) next year, up by 30.8 percent from an estimated Rp 202 trillion by the end of this year.

Currently, Fast Food operates 334 KFC outlets all over Indonesia, more than 60 percent of which are located in cities in Java. It opened 27 new stores so far this year, up to September.

Fast Food recorded Rp 1.46 trillion in sales revenue during the first nine months of the year, a 31.4 percent jump from Rp 1.11 trillion in the same period last year.

“The opening of our new restaurants, especially in potential regencies, has boosted our sales growth this year,” said the company in a statement to the Indonesian Stock Exchange (IDX).

Fast Food also said its sales growth was supported by its pricing strategy and the rising value of the KFC brand. Fast Food is 43.8 percent owned by PT Gelael Pratama, 35.8 percent by PT Megah Era Raharja and 20.4 percent owned by the public. (JP/hwa)

The Jakarta Post ,  Wed, 11/19/2008 10:59 AM  |  Business

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News Topics : Array, Company Pt, Era, Fast Food, First Nine Months, Food Franchise, Food Outlet, Franchise Company, Growth Target, Hwa, Indonesia Stock Exchange, Jakarta Post, Jp, Kentucky Fried Chicken, Kentucky Fried Chicken Kfc, Months Of The Year, Pricing Strategy, Regencies, Restaurants, Trillion