“(The results) are really driven more than anything else by running great restaurants”, chief executive Daniel Schwartz said in an interview.
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Restaurants Brands global said third-quarter profit soared, helped by new restaurants and lower costs.
Tim Hortons’ comparable sales increased 5.3 per cent in the third quarter, helped by the launch of new breakfast items, lunch wraps and continued demand for beverages.
Burger King has been performing better in recent quarters as rival McDonald’s Corp. has struggled, although McDonald’s is beginning to show signs that its turnaround plans are taking hold.
At Burger King, revenue grew 11.2 per cent to US$282 million from $278.9 million.
The Oakville, Ontario-based company’s revenue fell 2 percent to $1.02 billion in the three months ended September 30.
Chief Financial Officer Josh Kobza said the deal in France will allow the company to convert the majority of Quick’s 400 restaurants to Burger Kings in the next few years. If the companies had been combined in the third quarter of 2014, Restaurant Brands would have had a $46.1-million net income or 23 cents per share.
On an adjusted basis, Restaurant Brands earned 34 cents per share, beating analysts average estimate of 28 cents per share, according to Thomson Reuters I/B/E/S.
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Tim Hortons contributed $737.7 million of revenue, which was down from $834.1 million a year earlier – mainly because of the impact of a weaker Canadian dollar.
