Restaurant Brands International enjoyed higher net income in the second quarter, thanks to the impact of Burger King’s acquisition of restaurants from non-Carrols franchisees and an increase in system-wide sales.
The company’s net income grew 13.7 per cent year over year to $399 million as revenue soared 17.2 per cent to $2.08 billion.
Consolidated comparable sales rose 1.9 per cent while net restaurants grew 4 per cent.
During the quarter, the group funded $6 million toward its Fuel the Flame advertising and digital investments and $10 million toward its Royal Reset equipment and infrastructure investments.
Restaurant Brands International ended the quarter with Burger King owning and operating 175 company restaurants after it acquired about 125 restaurants from non-Carrols franchisees last year and in the first quarter of this year.
On June 28, the group also completed the acquisition of Popeyes China, which will be included in the consolidated results beginning in the third quarter.
From this year to 2028, the company expects to record average annual results of 3 per cent plus comparable sales, 5 per cent plus net restaurant growth and 8 per cent plus system-wide sales growth.