Burger King owner dines out on meal deals and refreshed menu
Restaurant Brands – the owner of Burger King – is struggling to hold its own in the fast food wars.
Revenue unexpectedly fell in its latest quarter as exchange rates dragged on profit and sales slowed at existing venues. Despite luke-warm sales, the company managed to increase earnings by cutting costs.
Total revenue in the quarter was little changed at $1.04bn (£882m), in line with analysts’ $1.05bn expectations.
Burger King has been thinking outside the box to try and tempt customers through its doors. Two of its latest inventions are the Mac n’ Cheetos deep-fried sticks of macaroni and cheese, as well as grilled Oscar Mayer hot dogs.
Net profit attributable to shareholders rose to $90.9m, or 38 cents per share in the quarter ended June 30, from $11m a year earlier.
Restaurant Brands also owns the Canadian Tim Hortons coffee and doughnut chain.