Alexa
  • Directory of Taiwan

Burger King, Tim Hortons parent reports loss on deal costs

Burger King, Tim Hortons parent company Restaurant Brands reports loss on deal costs

Burger King, Tim Hortons parent reports loss on deal costs

NEW YORK (AP) -- Burger King and Tim Hortons parent company Restaurant Brands International reported a loss for its fourth quarter, dragged down by costs related to the deal to combine the two chains.

For the period ended Dec. 31, it said it lost $514.2 million, or $2.52 per share. A year ago, it earned $66.8 million, or 19 cents per share.

Revenue was $416.3 million, boosted by new locations and sales gains at established restaurants for both Burger King and Tim Hortons. A year ago, revenue was $265.2 million.

3G Capital bought Burger King in 2010. The chain then said it was buying Tim Hortons last year. As with Burger King, 3G sees potential to turn Tim Hortons into a more global brand by striking franchising deals around the world.


Updated : 2021-09-26 08:34 GMT+08:00