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Company News

Restaurant Brands quarterly profit rises 49 pct

Oct 24 (Reuters) - Restaurant Brands International Inc reported a 49.3 percent jump in quarterly profit on Wednesday, as efforts to boost sales at its Tim Hortons cafes paid off.

Net income attributable to the shareholders in the company rose to $136.5 million, or 54 cents per share, in the three months ended Sept.30, from $91.4 million, or 37 cents per share, a year earlier, based on accounting standards used until the fourth quarter of last year.

Total revenue fell to $1.18 billion from $1.21 billion.

The company, which also owns Burger King, said it had a profit of $133.6 million and revenue of $1.38 billion under new accounting standards applied since the first quarter. (Reporting by Laharee Chatterjee in Bengaluru; Editing by Sriraj Kalluvila)

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