The fast food group Restaurant Brands International, owner of the Burger King, Tim Hortons and Popeyes Louisiana Kitchen chains, accounted for an attributed net profit of $ 142 million in the second quarter of 2019, equivalent to a 15% decrease in comparison with the same period of the previous year, as reported by the company.
The company has explained that the decrease has been motivated by the increase in the provision of tax expense as a result of an “adjustment related to a previous restructuring transaction that is not applicable to current operations”. Likewise, the net result has also received the impact of other extraordinary ones, such as the exchange rate.
“We are excited by the tremendous growth opportunity that lies ahead, recently highlighted by the new agreements we announced for Popeyes in China and Spain, as well as for Tim Hortons in Thailand,” said the company’s CEO, José Cil.
The turnover between April and June rose to 1.4 billion dollars, 4.2% more. Of that figure, sales from restaurants under direct operation remained stable at 589 million dollars, while franchise revenues advanced 7.1% to 811 million dollars.
Taking into account the total turnover of the franchised premises, the total turnover of Restaurant Brands International in the second quarter grew by 4.5%, to 8,447 million dollars.
By chains, Tim Hortons improved its net income by 2.3%, to 842 million dollars, while Burger King had a turnover of 447 million dollars, 6.9% more, and Popeyes Louisiana Kitchen stood at 111 million dollars, 9% more.
With regard to expenses, the costs associated with sales remained stable at $ 453 million, as well as sales, general and administrative expenses, up to $ 316 million. The costs of maintenance and supply of franchises increased by 31%, to 135 million dollars.
During the first six months of the year, Restaurant Brands International obtained a net attributable profit of 277 million dollars, 12% less, while the turnover rose 2.7% to 2,666 million dollars.
K. Tovar
Source: EuropaPress
