Headline revenue growth does not necessarily indicate real growth. When the unit of account weakens, nominal figures rise even if underlying output does not. A seven percent increase measured in a depreciating currency can coexist with flat or declining real profitability.

Rising labour, energy and input costs suggest that margins are under pressure. In that environment, higher revenues often reflect price increases rather than higher volumes or productivity gains. The business may be working harder to stand still.

This distinction matters. Real growth comes from producing more value with the same or fewer resources. Nominal growth can be achieved by adjusting prices in response to currency debasement. The latter creates the appearance of progress while purchasing power erodes.

Bitcoin exposes this difference. When measured in a unit with fixed supply, growth must be real. Revenues cannot rise unless more value is created. This is why comparisons made solely in fiat terms increasingly mislead. The problem is not the business. It is the measuring stick.

https://www.perplexity.ai/page/burger-king-uk-revenue-climbs-R9MglHqWRQKPNhou23NSTQ