Strong delivery in KFC; demand challenges persist

Company
11 Mar 2024
5 Min read 
  • Sapphire Foods reported 11.6% YoY revenue growth in 3QFY24, with strong performance in KFC.
  •  KFC's same-store sales declined 2% compared to a 5% drop for Devyani.
  •  Pizza Hut's performance further deteriorated, with same-store sales down 19%.
  •  The company plans to slow down store expansion in FY25 to focus on profitability.
  •  The stock trades at a moderate valuation compared to QSR peers.
  •  The company maintains a cautious stance on the QSR industry due to ongoing demand challenges.
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