Burger King outranks McDonald's in Mexico, Central America and other markets and expects to see even stronger future growth.
BY JOACHIM BAMRUD
U.S.-based fast food restaurant chain Burger King is scheduled to release its fiscal year 2008 results this week. The Latin America division will be among the highlights thanks to the chain boasting a new leadership position in the Mexican market and growth in key markets like Brazil and Central America. That comes on top of its traditionally high margins - the highest of any world region.
"In Latin America we have ...maintained comp growth in sales for 15 years [and are] growing 12-15 percent per year for the last five years," says Armando Jacomino, the president of Latin America for Burger King.
Burger King passed McDonalds in Mexico in March and now has a leadership position in 17 of the 27 markets where it operates in Latin America and the Caribbean, he says. All in all, BK now boasts more than 1,000 restaurants in Latin America compared with 903 at the end of June 2007. Even more impressive - the current number of restaurants represents a near-doubling compared with the 540 it had in January 2004, according to Jacomino.
Latin America accounts for the highest company restaurant margin (CRM) of any region worldwide. In the quarter ...
Keywords: Argentina, Brazil, Chile, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, inflation, Mexico, Venezuela