Miami-based Burger King Worldwide once again grew net income more than 50 percent despite a steep drop in revenue resulting from the completion of its global refranchising program. The franchisor of more than 13,000 restaurants worldwide reported first-quarter profit of $60.4 million, or 17 cents per share. Global same-store sales rose 2.0 percent in the March 31-ended period, including a slight uptick in the United States and Canada.

1Q NET INCOME

Result: $60.4 million, or 17 cents per share
% Increase: 68.7% (from $35.8 million, or 10 cents per share)

1Q REVENUE

Result: $240.9 million
% Decrease: 26.5% (from $327.7 million)

1Q SAME-STORE SALES

% Global increase: 2.0%


% Increase in U.S. and Canada: 0.1%


% Increase in Europe, Middle East and Africa: 4.8%


% Increase in Latin American and Caribbean: 4.0%


% Increase in Asia Pacific: 3.8%


Source: Company report

RELATED:
Burger King rolls out Whopper Wi-Fi nationwide
Report: Burger King to roll out mobile payments
More restaurant finance news

Contact Mark Brandau at mark.brandau@penton.com.
Follow him on Twitter: @Mark_from_NRN