Listed gourmet burger chain Burger Fuel says it will concentrate on its operations in the Middle East over the next year and hold off on expansion in Australia until it becomes viable.
The New Zealand franchise's profit after tax was to $708,000 for the year to March. Last year it made $33,000.
The company, which operates three stores under franchise in Saudi Arabia, five in Dubai and one in Iraq, says the Middle East is its prime focus for further expansion.
It says further outlets in Saudi Arabia and Dubai are under construction and expects stores in Egypt and Qatar will be opened this financial year.
The company has one store in Australia and wants to expand into that market but says it won't do it until it is cost effective.
It expects to open another five outlets in New Zealand.