Burger King sales generate higher quarterly profit for Restaurant Brands
Shares of Restaurant Brands rose as much as 2.8 percent to C$76.28.
According to Reuters, Restaurant Brands International Inc's quarterly profit topped Wall Street estimates, driven mainly by higher sales at its Burger King chain.
The burger brand reported a 4% rise in comparable sales in the second quarter, led by higher sales in the United States, beating the expectations of the analysts at Consensus Metrix of a 2.7 percent rise in comparable sales.
Restaurant Brands chief executive Daniel Schwartz said that adding initiatives such as home delivery have been a steady revenue generator for the company.
Systemwide sales at Burger King's restaurants, which include company-owned, franchised and licensed outlets, rose by 11% in the latest quarter ended June 30.
Restaurant Brands' total sales rose 9 percent to $1.13 billion in the quarter.
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