Burger King NZ reports $7.5M loss on rising finance costs; sales rise

Thu, 25 Jun 2015

By Jonathan Underhill June 24 (BusinessDesk) - Blackstone Group's Burger King chain in New Zealand continues to lose money as sales growth is swallowed up by finance costs and other expenses. The net loss for Tango Holdings NZ widened to $7.5 million in 2014, from a loss of $4.4 million a year earlier, according to its financial statements. As a result, income tax credits were $385,528, down from $1.4 million in 2013. Sales rose 1 percent to $177.6 million. The stand-out expense was finance costs at $18.6 million, up from $14 million...

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