Burger Fuel Group Ltd Half Year Results - 30 September 2022

Burger Fuel Group Limited (BFG) has reported unaudited results for the 6 months to 30 September 2022, showing a 36.5% increase in Net Profit after tax to $552,316 compared to $404,525 for the same period last year.

Group Operating Revenue (excluding IFRS 16 and the Government support income) increased by 13.9% on the same period last year to $10.7M.

Total system sales (all regions all brands) were $51.6M for the period, representing an increase of 13.17% over the same period last year, mainly due to the opening of the franchised BurgerFuel Cambridge store and the fact that trading days were benchmarked against reduced trading days due to COVID lockdowns.

The Group has no debt and as at 30 September 2022 had cash reserves of $7.4M.

BurgerFuel International sales accounted for 9.51% of total BurgerFuel sales.

The Group has opened a company owned Shake Out store in the Commercial Bay precinct in the Auckland CBD, and also opened a company owned BurgerFuel store in Rolleston, Christchurch on 31 October 2022.

The Group is still investing a considerable amount in the new brands and will continue to do so going forward.