BurgerFuel Worldwide (BFW) has reported six months of solid growth and increased revenue, with a 122 per cent increase on the same period last year.

Preliminary results report a net profit after tax of $213,215 in the six month period ending September 30, 2014.

Group operating revenue was $8.5 million, up 27.1 per cent.

BurgerFuel total system sales were $38.6 million, up 29.4 per cent, with system sales growth continuing and the BurgerFuel rolling weekly system sales in excess of $1.5 million per week.

“We had previously advised the market that given the need for considerable investment this year, we expected expenditure in the year to be greater than revenue, resulting in a possible loss for the period. Accordingly, the net profit after tax result in the period of $213,215 – a 122 per cent increase on the same period last year, was a particularly good result. We do however expect development expenditure to continue through the second half of the year,” the company said in a statement.

Between April 1, 2014 and September 30, 2014, seven new restaurants were opened, bringing the total number of BurgerFuel stores worldwide to 62 at September 30.

Sales across NZ (39 stores), and Australia (2 stores) increased by 36.3 per cent.

More stores are planned for NZ in both the North and South Islands, and the company expects to open a further five stores in Australia before March 31, 2015.

In the Middle East, sales have increased by 18 per cent.

The number of BurgerFuel restaurants in the region is 21, with three stores opening in the 6 month period to September 30, 2014.

The store in Iraq was closed during the period due to the ISIS situation.

“BFW continues to be well set up for continued growth both in our existing and new markets. Project investment and enhanced process improvement will ensure that we can support increased future growth and efficiency,” the company said.