Burger King reports positive Q3 results

Miami Burger King Holdings reported that it earned $47 million for the third quarter ended March 31, compared with $41 million for the same period last year. The company said cost cuts and tax savings helped to offset weaker traffic in March.

The company said its total revenue was $600 million, a 1% increase compared with fiscal third quarter 2008. Same-store sales also increased 1%.

The company opened 53 new restaurants in the third quarter, and the chain is on target to meet its full fiscal year development plan, representing a worldwide net restaurant growth rate of 3% to 3.5%.

“We delivered our 21st consecutive quarter of worldwide positive same-store sales, our annual net restaurant growth remains on track and our cash-flow generation remains strong,” said John Chidsey, chairman and CEO, Burger King.