Burger King Signs Franchise Agreement In Romania

Burger King (BKC), America’s second largest chain of fast food restaurants, signed late last year a franchise agreement to start operations in Romania, the company said in its quarterly financial report Thursday.

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"We executed on our worldwide development strategy with the opening of over 100 net new restaurants. Additionally, we entered into development agreements with new franchisees in Colombia, Brazil and Romania. I remain confident in our ability to grow the brand worldwide, including net restaurant growth in the U.S. and Canada segment," Burger King CEO John Chidsey said.

Burger King operates more than 11,300 restaurants in all 50 states and 69 countries and U.S. territories worldwide. Approximately 90 percent of Burger King restaurants are owned and operated by independent franchisees.

The company posted overall revenues of $1.2 billion at the end of the first half of financial year 2007-2008, up 10% compared to $1.1 billion in the similar period of previous year.

Burger King net profit stood at $98 million, up 26% against $78 million a year ago.

Romania’s fast food restaurants market includes brands such as McDonald’s, KFC, Spring Time and Broaster Chicken.

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