Restaurant Brands profit beats on Burger King strength

Industries Reuters

(Reuters)

Tim Hortons and Burger King parent Restaurant Brands International's quarterly profit beat Wall Street estimates as its chains, which sell coffee, donuts, burgers and fried chicken, did more business.

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Total sales at the company, which also owns the Popeyes Louisiana Kitchen chain, came in at $1.13 billion in the second quarter ended June 30, up from $1.04 billion a year earlier.

Comparable sales at Burger King rose 4 percent, offsetting dips at Tim Hortons and Popeyes.

Fast-food restaurants in the United States are fighting competition on all fronts - from direct rivals, convenience stores, as well as other food sellers and boutique restaurants.

Restaurant Brands' chains compete with the likes of McDonald's, Yum Brands and Dunkin' Brands.

Systemwide sales, which includes company-owned, franchised and licensed outlets, at all three at Restaurant Brands chains increased, led by an 11 percent rise at Burger King.

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Adjusted net profit was 51 cents per share in the quarter, topping analysts' average estimate of 45 cents per share, according to Thomson Reuters I/B/E/S.

(Reporting by Nivedita Bhattacharjee; Editing by Martina D'Couto)