Yum third-qtr profit rises, sees FY08 US profit down

LOS ANGELES, Oct 7 - Yum Brands Inc, the parent of Taco Bell, Pizza Hut and KFC, posted higher third-quarter earnings on Tuesday, but forecast that U.S. profits will decline about 8 percent for the full year.

Third-quarter net income at Louisville, Kentucky-based Yum rose to $282 million, or 58 cents per share, from $270 million, or 50 cents per share, in the year-ago quarter, when it had more shares outstanding.

Total revenue increased to $2.84 billion from $2.56 billion earlier.

Sales at established restaurants were up 3 percent worldwide. Mainland China posted a 5 percent hike in same-store sales, while Yum International rose 4 percent and U.S. operations were up 3 percent.

Yum's U.S. business has consistently lagged its overseas operations.