NZ's Burger Fuel Worldwide slips after posting FY loss

Burger Fuel

14/06/2018 05:11

** Burger Fuel Worldwide Ltd  BFW.NZ  falls as much as 12.5
pct to NZ$0.7, its biggest intraday pct fall since April 4 
    ** Franchisor of gourmet burger restaurants posts FY net
loss attributable of NZ$463,062 versus profit of NZ$888,948 last
year  urn:newsml:reuters.com:*:nNZW76pjXM
    **  Attributes loss to costs associated with initial
establishment and later exit of U.S. store
    ** Co says, " ... international development has become an
expensive and ultra-competitive proposition"
     ** Plans to diminish its international activity and focus
on becoming multi brand business in NZ
    ** Over 5,414 shares change hands, compared with the 30-day
average of 3,367 
    ** Up to Wednesday's close, stock had fallen 8.1 pct this
year 

 ((Reuters Messaging:
Devika.Syamnath.thomsonreuters.com@reuters.net))