Chinese fast food conglomerate Yum Brands (YUM.NYSE) reported on Monday that its fourth-quarter net income fell and warned that profits in 2013 will also decline, Reuters reported. The company reported a 6% fall in sales in the fourth quarter at restaurants in China, from which the company derives more than 50% of its aggregate sales and operating profit. The firm’s net income fell to US$337 million in the fourth quarter, down from US$356 million in the same period of 2011. Yum’s business continued to decline in January with China sales dropping 37% after media reports alleged the company used contaminated poultry in the past. Yum predicts a single-digit decline in profits in 2013.
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