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May 1, 2008 9:45 am US/Eastern

Good To Be King

Burger King Posts Profit Gains In Third Quarter

MIAMI (CBS4) ― Burger King Holdings Inc., headquartered in Miami, reported on Thursday that strong same-store sales in each of its segments and new restaurant growth helped profit rise 21 percent in its third fiscal quarter. In the quarter, Burger King continued its global expansion including the opening of the first restaurant in Colombia and three franchised airport locations in China.

The company said net income rose to $41-million, or 30 cents per share, from $34 million, or 25 cents per share, last year. Revenue rose 10 percent to $594-million from $539-million last year.

John Chidsey, chief executive officer, said "This quarter we delivered on our global growth strategies, with all segments contributing to top and bottom line expansion." He added, "We leveraged our product pipeline and marketing initiatives around the world while creating a consistent and positive guest experience at our restaurants."