Burger King
Burger king profit up in 3Q, outlook cut
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Burger King Holdings Inc. lowered its full-year profit guidance, citing the weak economy and the possible affect of the swine flu outbreak that started in Mexico, despite a third-quarter profit increase of 14.6 percent.
Burger King said Wednesday that its net income for the quarter ended March 31 rose to $47 million, or 34 cents per share, from $41 million, or 30 cents a share.
In its guidance for the rest of the company’s fiscal year, which ends in June, Burger King forecast a per-share profit of between 34 cents and 37 cents in the fourth quarter. The company lowered its full-year outlook to between $1.39 and $1.42 per share, from previous expectations for earnings between $1.44 and $1.49 per share. The company cited “ongoing market challenges and unknown potential effects of the swine flu situation.”
Burger King has 390 restaurants in Mexico, including 84 corporate locations.
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Junio 27, 2024