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Burger King reports 94 pct rise in 4th-qtr profit
February 15, 2013 / 12:20 PM / 5 years ago

Burger King reports 94 pct rise in 4th-qtr profit

Feb 15 (Reuters) - Burger King Worldwide Inc on Friday reported a 94 percent rise in fourth-quarter profit as menu additions drove comparable sales gains in the United States and Canada.

The results landed as the fast-food chain and other companies with European operations grapple with a scandal involving horsemeat in products labeled as beef. Burger King said traces of horse DNA were found in samples of hamburger patties from a food-processing plant in Ireland but that the meat never reached its restaurants.

The third-largest U.S. hamburger chain, known for its “Whopper” hamburgers, said net income rose to $48. 6 million, or 14 cents per share, in the quarter ended Dec. 31 from $25 million, or 7 cents per share, a year earlier.

On an adjusted basis, Burger King earned 23 cents per share.

Revenue fell 30 percent to $404.5 million.

System-wide sales at restaurants open at least 13 months rose 2.7 percent.

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