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Yum China Profit Plunged 89% In 4th Qtr As Covid Wave Hurt Spending

Widespread Covid outbreaks in mainland China in the fourth quarter of 2022 hurt earnings and revenue at Yum China, the country’s largest restaurant company. Net income at the operator of KFC and Pizza Hut eateries plunged by 89% from a year earlier to $53 million, the company said in a new filing. …

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