‘Evolving’ customer proposition and continued expansion drives growth at Burger King

The group, which holds the master franchise agreement to the QSR chain in the UK, said an increase in revenue propelled by continued expansion, combined with good cost management, helped drive growth across the business.

Total revenue over the period rose 30% to £381.8m (2022: £294.5m), with like-for-like sales growth of 3%.

Adjusted EBITDA improved to £23.3m from £15.1m the year before.

“I am pleased to announce a strong full-year performance and significant strategic progress in 2023. Our revenue performance and improvement in operating profit reflects the strength of our brand and the continued demand for our high-quality, affordable food offering,” says Alasdair Murdoch, CEO of Burger King UK.

During 2023, Burger King UK opened 18 new restaurants, including new Drive Thru restaurants in Castleford, Barrhead, Bolton Logistics Park, and Kirkcaldy.

It also completed the full integration of 74 Burger King UK restaurants following the acquisition of Karali Group in September 2022.

The group also pushed ahead with its remodelling programme, with the upgrade of 10 restaurants in 2023 driving an ‘immediate uplift’ of sales at those locations.

In addition, Burger King UK introduced several new products including its premium Gourmet Kings offering and its £4.99 and £5.99 King Box menu bundles, both of which are credited with driving growth.

Elsewhere the group advanced its ESG efforts with new initiatives introduced over the year including reducing overnight energy usage with the 'Save While You Sleep' campaign and enhancing food waste measurement and reduction in restaurants.

Murdoch says trading has remained resilient in the first half of 2024, with total sales growth of 5% split equally between the existing estate and contribution from new site openings.

“Looking ahead, we are excited about our ambitious expansion plans and the continued growth of our digital and delivery services, supported by good cost management and a robust pipeline of new openings,” he adds.