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NEW YORK (CNN/Money) -
Burger King is seeing strong sales gains and could have an initial public offering within the next year, according to a published report.
The Miami Herald reports that Greg Brenneman, chairman and CEO of the nation's No. 2 fast-food chain, told a business group in Coral Gables, Fla., on Monday night that Burger King posted a 60 percent gain in earnings before interest, taxes, depreciation and amortization in the fiscal year ending in June. He projected another increase of close to 50 percent during the current year.
He also said that an IPO could come as soon as the current fiscal year, although he cautioned ''I am in no real rush."
Burger King was owned by U.K.-based Diageo (Research) until 2002 when an investment group led by Texas Pacific Group bought the company for about $1.5 billion and took it private.
The chain, founded in 1954, operates in all 50 states and in 60 other nations worldwide. Its Web site says it operates 11,220 restaurants and serves about 11.8 million customers daily worldwide.
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