Revenue rises but profit falls as Restaurant Brands battles inflation

The fast-food company hasn't been able to lift prices at the same rate as inflation. (Photo: RBD)

Tue, 28 Feb 2023

Restaurant Brands (RBD) reported $1.2 billion in total sales during 2022, but its profit fell as rising food costs hurt the company’s margins. Net profit was $32.1 million, a 38% fall from $51.9m the previous year, due to the “adverse impact of inflation”. The 2021 profit included forgiveness of an $11.4m US government loan.The fast-food company said inflation had been a bigger challenge in 2022 than the covid-19 pandemic had been in 2020 and 2021. Food inflation rates were “well above” overall price inc...

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