Battle of the Burgers: Burger King serves up sales growth to equal rival McDonald’s
Fast food chain Burger King has reported higher quarterly profits on the back of cost reductions and higher same-restaurant sales growth in Europe, the Middle East, Africa and Asia Pacific.
Burger King said that same-restaurant sales grew by 0.9 per cent in the third quarter – the same as the growth reported by rival McDonald's last week.
At Burger King net profit hit $68.2m, or $0.19 a share, up from $6.6m or $0.02m a share last year.
Burger King's revenues dropped by 40 per cent to $275.1m as the company refranchished some 520 outlets in the year ended September.
Yet at McDonald's, revenue rose by 2.4 per cent to $7.32bn, yet those quarterly revenue figures still fell short of analyst expectations, as the company warned that global sales in October are likely to be flat on last year.