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August 26, 2009

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Burger King posts meaty income in fiscal Q4

BURGER King said yesterday its fiscal fourth-quarter profit rose despite a drop in sales as it opened more outlets and better managed costs in the United States.

America's No. 2 hamburger chain earned US$58.9 million, or 43 US cents per share, in the three months that ended on June 30. That compares with US$50.6 million, or 37 US cents per share, in the same period a year earlier. Results beat Wall Street's estimate of 33 US cents per share.

Revenue fell 2.4 percent to US$629.9 million. Analysts had expected revenue of US$632 million.

Miami-based Burger King said it added 115 net new restaurants in the period.

It also said margins at its restaurants in the US and Canada improved to 13.5 percent from 12.2 percent a year before.


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