Burger King's profit rises as costs fall 90 pct

Mon Oct 28, 2013 7:22am EDT
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Oct 28 (Reuters) - Burger King Worldwide Inc reported a higher quarterly profit as costs plunged and same-restaurant sales grew in Europe, the Middle East, Africa and Asia Pacific.

Global same-restaurant sales rose 0.9 percent while expenses fell about 90 percent in the quarter ended Sept. 30.

Burger King said net profit rose to $68.2 million, or 19 cents per share, from $6.6 million, or 2 cents per share, a year earlier.

Revenue fell about 40 percent to $275.1 million, mainly because the company refranchised about 520 restaurants in the year ended September.

McDonald's last week also reported a rise of 0.9 percent in its third-quarter global same-restaurant sales.