* Q4 adj profit of $0.44/shr vs est of $0.42/shr
* Burger King comp sales rise 2.8 pct vs est 2.5 pct
* Tim Horton comp sales rise 0.2 pct vs est 1.1 pct
(Adds details, analyst comment, shares)
By Komal Khettry
Feb 13 Restaurant Brands International Inc
, the owner of Burger King and Tim Hortons,
reported a higher-than-expected quarterly profit as comparable
sales at its burger chain topped estimates and costs fell.
U.S.-listed shares of Restaurant Brands rose as much as 2.5
percent to a record $52.73. The Toronto-listed shares also rose
as much as 2.8 percent to $69.10 to hit a record high.
Total comparable sales at Burger King rose 2.8 percent in
the fourth quarter ended Dec. 31, helped by new menu items and
the re-introduction of Cheesy Tots for a short period of time.
Analysts were expecting a 2.5 percent rise, according to
research firm Consensus Metrix.
Burger King's performance was in contrast to U.S. restaurant
chains such as McDonald's Corp, Dunkin Brands Inc
and Yum Brands Inc, which posted
lower-than-expected comparable restaurant sales during the
However, during the quarter Tim Hortons' total comparable
sales rose 0.2 percent, missing estimates of a 1.1 percent rise.
"The pace of menu innovation at Tim Hortons has fallen back
since last year, when the company introduced new lunchtime
options and Nutella pockets," Neil Saunders, managing director
of research firm GlobalData Retail said in a note, calling
Burger King the "star of the show".
Total costs at Restaurant Brands fell about 16 percent to
The company's net profit attributable to shareholders more
than doubled to $118.4 million, or 50 cents per share, from a
year ago, when it took a $37 million charge for the merger of
Burger King and Tim Hortons.
On an adjusted basis, Restaurant Brands earned 44 cents per
share, beating the average analysts' estimate of 42 cents per
share, according to Thomson Reuters I/B/E/S.
The Oakville, Ontario-based company's total revenue rose
about 5 percent to $1.11 billion and was nearly in line with
(Reporting by Komal Khettry in Bengaluru; Editing by Shounak