Tricon 4th-Quarter Profit Rises 28%

Tricon Global Restaurants Inc., owner of the Pizza Hut, KFC and Taco Bell chains, said fiscal fourth-quarter profit jumped a better-than-expected 28% and said the current quarter will exceed forecasts as the company expands overseas.

Net income grew to $164 million, or $1.08 a share, as revenue rose a slight 0.9% to $2.2 billion. Analysts were expecting earnings of $1.04.

Tricon said fiscal first-quarter earnings will be 74 cents to 78 cents a share, up from 59 cents a year ago and well beyond analysts’ expectations of 69 cents.

Shares of Louisville, Ky.-based Tricon fell 19 cents to close at $54.31 on the NYSE. Results were released after the close of regular U.S. trading.