The owner of Tim Hortons and Burger King is reporting flat sales at its established locations in the first quarter but a nine per cent increase in revenue, which was above analyst estimates.
Restaurant Brands International Inc. (TSX:QSR) says comparable sales at locations open at least a year were down one-tenth of a per cent at both chains, after adjusting for currency fluctuations.
The Oakville, Ont.-based company says its net income, reported in U.S. dollars, was also flat compared with a year ago, at US$50.2 million or 21 cents per share.
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When he became the director of Goodkey, Weedmark & Associates Ltd. (GWAL), Francis Bann developed his vision for the company by reflecting on how GWAL had created success over its

Why East India Company is a great choice for a family meal – or your next business lunch
In 1968, new immigrants to Canada Kamal and Sudha Mehra opened Winnipeg’s first North Indian restaurant, India Gardens, aiming to recreate the flavours of home in their new settings. The
However, RBI’s overall revenue increased by $82.1 million to about US$1 billion, about three-quarters of it from Tim Hortons, and adjusted earnings rose 20 per cent to $170.6 million, or 36 cents per share.
The adjusted earnings were two cents above estimates compiled by Thomson Reuters, while revenue was about $10 million above the estimate of US$990.27 million.
The quarterly financial report follows RBI’s acquisition of Popeyes Louisiana Kitchen, Inc. at the end of March, too late in the quarter to have any meaningful impact.