Costs take a bite out of Restaurant Brands' FY net profit

(Image: Restaurant Brands)

Mon, 26 Feb 2024

Fast-food operator Restaurant Brands said sales hit a record high of $1.322 billion last year despite still facing significant cost pressures.Restaurant Brands, which operates major fast-food franchises KFC, Pizza Hut, Carl’s Jr and Taco Bell, released its full-year financial results on Monday morning.In the year ended Dec 31 , net profit was down $15.8 million versus the prior year at $16.3m.The company said revenue growth could not compensate for inflationary pressures on ingredients and wages and “underperformance” in Calif...

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