"While inflation in food and utility costs has returned to more normal levels, the sector continues to face softer consumer sentiment and rising labour costs following significant increases in the national minimum wage and national living wage."
"I am pleased to report another year of solid performance and strategic progress for Burger King UK in 2024. Despite a challenging macroeconomic environment and ongoing sector cost pressures, we delivered revenue growth, positive like-for-like sales, and improved underlying EBITDA through disciplined cost management and operational focus."
Burger King plans to open around 30 new restaurants a year across the UK starting next year, expanding from its current 574 restaurants. The chain reported stronger revenues despite a challenging economic backdrop marked by weak consumer sentiment and higher labour costs after the Chancellor's Budgets. The company noted further signs of improvement as inflation slows, supporting operational performance. Chief executive Alasdair Murdoch said inflation in food and utility costs has returned to more normal levels, but the sector still faces softer consumer demand and rising labour costs. The business delivered revenue growth, positive like-for-like sales, and improved underlying EBITDA through disciplined cost management and operational focus.
Read at London Business News | Londonlovesbusiness.com
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