The Company also has certain patents on restaurant equipment which, while valuable, are not material to its business. The franchise programs of the Company are designed to promote consistency and quality, and the Company is selective in granting franchises. Taco Bell offers breakfast items in its U. Divide that by total revenue and we have an operating margin of around 15 per cent. Non-traditional units, which are typically licensed outlets, include express units and kiosks which have a more limited menu, usually generate lower sales volumes and operate in non-traditional locations like malls, airports, gasoline service stations, train stations, subways, convenience stores, stadiums, amusement parks and colleges, where a full-scale traditional outlet would not be practical or efficient. Each of the Concepts competes with international, national and regional restaurant chains as well as locally-owned restaurants, not only for customers, but also for management and hourly personnel, suitable real estate sites and qualified franchisees. Food-borne illnesses, such as E. Shortages or interruptions in the availability and delivery of food and other supplies may increase costs or reduce revenues.
More specifically, an increase in the value of the U. Dollar relative to other currencies, such as the Australian Dollar, the British Pound, the Canadian Dollar and the Euro, as well as currencies in certain emerging markets, such as the Russian Ruble, could have an adverse effect on our reported earnings. Following is a brief description of each Concept: Further, there is no assurance that any new restaurant will produce operating results similar to those of our existing restaurants. The Colonel perfected his secret blend of 11 herbs and spices for Kentucky Fried Chicken in and signed up his first franchisee in You should not place undue reliance on forward-looking statements, which speak only as of the date hereof. We also own a seasoning facility and a non-controlling interest in a meat processing facility in Inner Mongolia, both of which supply products to our Little Sheep business, as well as third-party customers. China businesses, the timing of any such separation, the future earnings and performance as well as capital structure of Yum! After starting with revenues and running through a list of costs and expenses, we are now at operating profit for the group. Pizza Hut units feature a distinctive red roof logo on their signage. CHAMPS — which stands for Cleanliness, Hospitality, Accuracy, Maintenance, Product Quality and Speed of Service — is our proprietary systemwide program for training, measuring and rewarding employee performance against key customer measures. The Company also has certain patents on restaurant equipment which, while valuable, are not material to its business. China Division In China, we partner with approximately independent food and paper suppliers, mostly China-based, providing a wide range of products. Health concerns arising from outbreaks of viruses or other diseases may have an adverse effect on our business. If a customer of our Concepts becomes ill from food-borne illnesses or as a result of food safety issues, restaurants in our system may be temporarily closed, which would decrease our revenues. Always try to understand where revenue comes from. There can be no assurance as to the future effect of any such changes on our results of operations, financial condition or cash flows. The number that shareholders care about is known as net income or net profit. Widespread outbreaks could also affect our ability to attract and retain employees. Each of the Concepts competes with international, national and regional restaurant chains as well as locally-owned restaurants, not only for customers, but also for management and hourly personnel, suitable real estate sites and qualified franchisees. In addition, our results of operations in China and the value of our Chinese assets are affected by fluctuations in currency exchange rates, which may adversely affect reported earnings. China businesses on a standalone basis if the separation is completed. The restaurants outside the U. These include provisions for uncollectible fees, rental and depreciation costs for restaurants that are leased or subleased to franchisees, and franchisee marketing costs. The use of these marks by franchisees and licensees has been authorized in our franchise and license agreements. Public concern over avian flu generally may cause fear about the consumption of chicken, eggs and other products derived from poultry, which could cause customers to consume less poultry and related products. Shortages or interruptions in the availability and delivery of food and other supplies may increase costs or reduce revenues.
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