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Burger King sees sales rise on cheap offers
FAST-FOOD chain operator Burger King Holdings yesterday posted quarterly results that topped analysts’ views, helped by its $1 double cheeseburger offer, more restaurants, lower taxes and deflated food costs.
The home of the Whopper reported net income of $50m, or 37 cents a share, for the second quarter ended 31 December. That was up from $44.3m, or 33 cents a share, a year earlier.
Revenue rose to $645.4m, above analysts’ estimates for $634.8m, helped by an increase in the number of Burger King restaurants. Worldwide restaurant margin also improved a better-than-expected 20 basis points to 13.8 per cent.
Profit and revenue were both better than expected.