Restaurant Brands International (RBI), operator of the Burger King and Tim Hortons chains, has reported total revenues of $1.4bn for the second quarter ending 30 June 2019.
System-wide sales of the company increased nearly 8% driven by 5.8% increase in net restaurant, 3.6% increase in comparable sales including a 0.5% increase in US comparable sales.
The increase in total revenues was primarily driven by growth in system-wide sales, increase in supply chain sales and the impact of the New Standard on franchise and property revenues. They were partially offset by FX movements.
Restaurant Brands International CEO Jose Cil said: “During the second quarter, we grew global system-wide sales nearly 8% and crossed two restaurant milestones with more than 26,000 restaurants globally, including more than 18,000 Burger King restaurants.
“We are excited by the tremendous opportunity for restaurant growth in front of us, most recently highlighted by new partnerships we announced for Popeyes in China and Spain, and Tim Hortons in Thailand.”
The company’s total operating costs and expenses stood at $909m, compared to $841m during the previous year.
Restaurant Brands International’s net income for the quarter was $257m, compared to $314m last year.
Cil added: “We are working closely with our restaurant owners to deliver an enhanced guest experience including technology like delivery, kiosks and outdoor digital menu boards.
“We also continue to attract leading talent in the industry to join our company and to contribute to our aspiration to build the most loved restaurant brands in the world.”