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
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