Inflation takes a big bite out of Restaurant Brands' half-year net profit

(Image: Restaurant Brands)

Mon, 28 Aug 2023

Restaurant Brands reported a 9.5% lift to $640.2 million in total sales for the six months to June 30, but the fast-food chain’s net profit sank more than 85% due to inflationary pressures. Net profit was $2.2m, an 85.6% fall from $15.3m in the previous corresponding period and an even steeper drop from the $51.9m profit Restaurant Brands reported in the first half of 2021.The fast-food company said its overall performance for the six months to June had been “impacted significantly” by global inflationary p...

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