Latin America is the fastest- or second-fastest growth market for U.S. fast food companies like McDonald's and Burger King.
BY CHRONICLE STAFF
Both McDonald's and Burger King are reporting strong growth in Latin America sales. Burger King last week reported that Latin America revenues in its latest quarter (ending June) grew by 17 percent to $27 million. That was the second-highest growth worldwide. Meanwhile, McDonald's boosted its second quarter revenues in Latin America by 31.9 percent to $503.2 million, according to the company's SEC filing August 6. That was the strongest growth anywhere worldwide, according to a Latin Business Chronicle analysis of the data.
The second quarter results follow good growth in the first half of the year as well as last year. Wendy's, another fast food restaurant chain, does not break down Latin America results, but had double-digit growth in Latin America last year, according to Mariano Oliva, Wendy's franchise area director for Latin America and the Caribbean.
Burger King posted Latin America revenues of $102 million for its total fiscal year, which ended in June. That was a 13 percent increase from the company's fiscal year 2006. That was nearly triple the growth in the United States and Canada, but lagged behind growth in its Europe, Middle East, Africa and Asia Pacific division.
"Revenues in Latin America increased ...primarily due to 95 new restaurant openings... during fiscal 2007, representing a 12 percent increase in restaurants compared to fiscal 2006," Burger King said Friday. Positive...