22 May 2012

BurgerFuel posts lift in profit

6:48 am on 22 May 2012

BurgerFuel has reported a sharp lift in annual profit, as it expands its footprint in the Middle East.

The listed burger chain made $708,000 in the year to the end of March, compared to $33,500 in the previous year.

Sales rose 5% in New Zealand, despite the weak economy, but jumped 110% in the Middle East as it opened six new stores in the region.

The company says it's made significant steps in expanding its international retail base, which now represents about a quarter of total income.

Shares in Burger Fuel were unchanged at $1.10 on Monday.