NZX-listed BurgerFuel Worldwide is hoping to cash in on the liberated diets of five million Iraqis, but how much will they pay for a burger? 

Listed fast food company makes a small profit after years of losses.

The NZX-listed fast food company is continuing its expansion in the Middle East.

BurgerFuel may be finding more hungry buyers for its fast food products, but the company is blaming the harsher lending criteria environment for a lack of new stores over the past six months.

The company reported a loss of $296,000 for the six months ending September, an improvement on the loss from the previous period of $669,000.

It reported an annual loss of $710,000 in June.

Gourmet fast food operator BurgerFuel has reported an annual loss of more than $710,000, although its performance in the second half of the year was a lot stronger than the first six months as it expands its global operations.

For the year ending 31 March, BurgerFuel has reported a loss of $710,282, of which $669,000 represents the previously reported loss for the first six months of the year, while the second half’s loss was significantly lighter at $41,282.

Burgerfuel has hired former McDonald’s NZ chief executive Alan Dunn as a director to assist in its worldwide rollout.

Mr Dunn has a 30-year experience within McDonald’s, including the founding of McDonald’s New Zealand, stints in the worldwide head office and head of the Nordic region.

Burgerfuel is embarking on a period of aggressive expansion, opening new stores in Taupo and Johnsonville, as well as two stores in Australia and another in Dubai. The company also aims to expand further through the gulf region.