Burger King widens full-year loss on Kiwi Pacific charge, higher costs; sales gain

Mon, 13 Jun 2016

By Sophie Boot June 13 (BusinessDesk) - Blackstone Group's Burger King chain in New Zealand widened its annual loss after taking a charge against its Kiwi Pacific joint venture and incurring higher finance and raw material costs. The net loss for Tango Holdings NZ widened to $7.6 million in the year to Dec. 31, from $7.5 million a year earlier, accounts filed with the Companies Office show. Revenue rose to $187.3 million, from $177.6 million in 2014. The 2015 loss is the fourth since Tango was incorporated in October 2011, the month p...

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