Burger King achieves record revenues

Concerns over healthy eating continue to have no impact on fast-food chain Burger King, will company revenues hitting a record high.

Burger King saw like-for-like sales and new restaurant openings deliver net income increases of 41% to $38m (£19.4m) from $27m for the second quarter of 2007 (three months to 31 December 2006) – the twelfth consecutive rise.

Worldwide, comparable sales were up 3.7% with sales in North America up 4.4%.

The BK Value menu as well as the group’s Xbox game collection, which sold more than 3.2m copies, increased both sales and restaurant traffic."

John Chidsey, Burger King chief executive officer, said: "Our brand and our great food continue to resonate with our restaurant guests."

Worldwide revenue increased to $559m (3285m) – a rise of 9%, while restaurant margins increased for a third consecutive quarter, up to 15.9% from 15.2% for the same period last year.

The company stated it was on target to achieve its key financial goals for 2007: to grow top-line revenue by 6-7%; grow adjusted earnings before interest, tax, depreciation and amortizisation (EBITDA) by 10-12%; increase adjusted net income in excess of 20% and reduce debt.

By Emily Manson

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