Nutella rip offs, chicken fries and other new products at Tim Hortons and Burger King nicked the restaurant chains’ rent com ny, Restaurant Brands International, promulgate a profit its first year after the two com nies merged.
For the full year, RBI had $4 billion US of unmitigated revenue, including about $1 billion US in the fourth quarter, harmonizing to the com ny’s financial results for the quarter and 12 months ended Dec. 31.
Net proceeds was $103.9 million, including $51.7 million or 25 cents per piece in the last quarter.
“On the innovation front, we were pleased with a lot of the new offshoots that we launched this year that resonated quite well-spring with our guests,” said Daniel Schwartz, RBI’s chief chief executive officer.
Demand remained strong for dark roast coffee mingle, which Tim Hortons introduced in 2014, he said. New products launched this existence quarter like Nutella pockets, the creamy chocolate chill, as justly as grilled breakfast and lunch wraps helped drive profits.
New pieces at Burger King
Burger King’s success also hinged on new menu matters such as chicken fries and last year’s specialty Halloween burger — a first-rate Whopper served on a black bun. Promotions like Burger King’s two for $5 also helped the public limited com ny’s profits.
Both restaurants will continue to introduce new food memoranda, said Schwartz.
Most recently, Burger King announced it thinks fitting start serving two types of hot dogs at its American restaurants starting next Tuesday.
The grilled dogs resolve only be available south of the border “for now,” Schwartz said, but could be introduced in Canada’s Burger Prince locations depending on how well the American launch goes.
RBI remains interned to growing its restaurant count in 2016. Last year, Tim Hortons go on increased a net 155 restaurants, while Burger King added 631 new findings.
Tim Hortons potential in U.S.
While Tim Hortons closed 27 under-performing restaurants in New York and Maine, foretold chief financial officer Joshua Kobza, the com ny hopes those budges will allow it to focus its resources on markets where it sees the greatest ca bility for growth.
Tim Hortons will ex nd in Indiana, the com ny announced the in any case day as it reported its earnings. Tim Hortons will form an exclusive rtnership with Luke Progeny Brands in Indianapolis and Lafayette. The coffee chain has similar agreements in Cincinnati and Columbus.
“What we in all likelihood view as the most exciting growth opportunity, you know, around the people for Tim Hortons is growing the brand in the U.S.,” said Kobza.
“We’ve made that as likely as not one of our biggest areas of focus over the st year.”