Tim Hortons powers sales growth at RBI

Restaurant Brands International Inc. is reporting double-digit sales growth amid higher revenues at Tim Hortons and Burger King.

In the quarter ended June 30, the company says global comparable sales increased 10 per cent compared with the same period a year earlier, led by even higher gains at Tim Hortons in Canada and Burger King International.

RBI says net income in its second quarter nudged up 1.4 per cent to US$351 million from US$346 million the year before, despite higher operating expenses.

The coffee and donut chain’s parent company, which reports in U.S. dollars, is posting a revenue boost to US$1.78 billion from US$1.68 billion a year earlier.

On an adjusted basis, RBI is reporting diluted earnings per share of 85 cents versus 82 cents per share from the year before — well above analyst expectations of 77 cents per share, according to financial markets data firm Refinitiv.

Consolidated system-wide sales jumped 14 per cent year over year and the number of net restaurants increased four per cent to 30,125, including 5,662 Tim Hortons locations.