US fast food giant Burger King Corp is on track to double its profits this year, according to an Associated Press report carried in US newspapers, which quoted CEO and chairman Greg Brenneman.
The company has had higher profits in the first half of this fiscal year than it had during its entire last one, which ended June 30, Brenneman said. “We’ve got big things coming,” he told a crowd at a meeting of the Greater Miami Chamber of Commerce.
Brenneman said when he took over Burger King, restaurants had average annual profits of $70,000 on $970,000 in sales. He said restaurants are now nearly halfway to his goal of raising that to $205,000 in profits on $1.3 million in sales. He credited the improvement to an aggressive advertising campaign and a string of successful new products such as the Angus steak burger, which was introduced under his predecessor.