A KFC restaurant in Cross Roads, Kingston
KFC Jamaica collects Yum award for highest transactions growth in LAC region
RESTAURANTS of Jamaica, operators of the 34-store quick-service chain KFC and Pizza Hut, has collected top awards from Yum! Brands for the highest transaction growth in the KFC Latin America and Caribbean (LAC) region.
Mark Myers, managing director of Restaurants of Jamaica, said yesterday that for the period December 2014 to October 2015, Jamaica won for having the highest sales and transactions growth in the region over the previous year (for markets with more than 15 restaurants).
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The company also collected the top awards for Breakthrough Innovation and Market of the Year as well as the Highest Growth in Volume of Pepsi Award.
Trinidad took second place and Peru took third.
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The KFC LAC region includes 40 markets where KFC has operations. On an annual basis, Yum’s regional office awards the top markets in LAC for their accomplishments in several categories. The event was held this year in JW Marriot Marquis in Miami, Florida.
According to Myers the award for highest sales and transactions growth is “a direct reflection of organic growth in terms of sales and transactions — the highest within markets with more than 15 stores.”
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He added that the Market of the Year Award was a “reflection of Jamaica’s positive sales growth, as well as good practices in innnovation and brand building”.
Myers said that Jamaica has presented double-digit growth in 2015 as well as high numbers for 2014, adding that growth numbers reached by KFC Jamaica are at record high. Specific data on revenue was not provided.
Asked what factors drove growth during the period, he said that the chain has improved results based on innovation and “focus on offering consistently high-quality products to meet consumer demands.
” KFC Jamaica focused on core products for individuals and groups. They also introduced a branded value menu and new products that represented incremental sales for the region,” he stated.
For 2016, he said, KFC Jamaica plans to continue on the growth trajectory “by focusing on innovation to ensure market relevance to meet the ever-changing demands in a competitive environment”.
Yum! Brands, Inc, based in Louisville, Kentucky, has over 41,000 restaurants in more than 125 countries and territories. The company is ranked number 228 on the Fortune 500 List with revenues of more than US$13 billion.
Greg Creed, CEO, commented in the company’s 2014 report that KFC delivered a strong year of system sales growth led by emerging markets like Russia, Africa and Thailand, and international developed markets like the UK, Continental Europe and Australia. The US, he said, was on a recovery path.
During the year, he added, KFC set a new record for international development and opened nearly 670 restaurants.
