Burger King nearly doubles net income in 2013Burger King nearly doubles net income in 2013

Miami-based Burger King Worldwide Inc. nearly doubled its full-year net income in 2013 to $233.7 million. Revenue for the year fell 41.6 percent to $1.15 billion, primarily due to the refranchising of 360 company-owned restaurants during the year. However, Burger King also opened 670 net new restaurants through the year, which helped drive a global same-store sales increase of 0.5 percent. The quick-service chain operates or franchises more than 13,000 restaurants in the United States and 96 foreign markets.
 

4Q NET INCOME

Result: $66.8 million, or 19 cents per share
% Increase: 37.4% (from $48.6 million, or 14 cents per share)

4Q REVENUE

Result: $265.2 million
% Decrease: 34.4% (from $404.5 million)

4Q SAME-STORE SALES

% Increase systemwide: 1.7%

% Increase in United States and Canada: 0.2%

% Increase in Europe, Middle East and Africa: 3.3%

% Increase in Latin American and Caribbean: 1.8%

% Increase in Asia Pacific: 6.2%

Source: Company report

FULL YEAR NET INCOME

Result: $233.7 million, or 65 cents per share
% Increase: 98.6% (from $117.7 million, or 33 cents per share)

FULL YEAR REVENUE

Result: $1.15 billion
% Decrease: 41.6% (from $1.97 billion)

FULL YEAR SAME-STORE SALES

% Increase systemwide: 0.5%

% Decrease in United States and Canada: 0.9%

% Increase in Europe, Middle East and Africa: 2.4%

% Increase in Latin American and Caribbean: 0.1%

% Increase in Asia Pacific: 4.1%

Source: Company report

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