KEY POINTS:
Gourmet burger chain BurgerFuel Worldwide is posting a first half loss of $669,000, as it continues to invest in expansion.
Chairman Peter Brook said the company had endured "extremely" challenging trading conditions with significant cost increases during the six-month period to the end of September.
Any further roll-out of stores in this country this financial year was uncertain due to current economic conditions, after two new franchised stores were added in the past six months.
In Australia, a "conservative" approach was being taken as the company continued to build the brand in Sydney.
Mr Brook said total system sales were up 12.4 per cent from the corresponding six months last year to $12.25 million.
Operating revenue in the September half year was $3.5m. The company compared that to the 3-1/2-month period from mid-June 2007 when the company was incorporated, during which revenue was $1.3m.
Operating expenses in the latest period were $4.2m.
Plans for expansion into the Middle East, specifically Dubai, were well advanced, with the company expecting to announce a first store location in early 2009, Mr Brook said.
BurgerFuel has 28 stores in this country and Australia.
- NZPA
