OAKVILLE, Ont. — Restaurant Brands International Inc., the parent company of Burger King and Tim Hortons, reported a net loss in its 2014 fourth quarter, relating to the merger of the two companies.
“Whenever you do a transaction like that, there’s going to be a lot of one-time fees,” Josh Kobza, CFO of Restaurant Brands, is quoted as saying by Reuters. “The underlying businesses are doing really well and that gives us a lot of confidence about the results that are going to come over the next few years.”
Oakville, Ont.-based Restaurant Brands posted a net income loss attributable to shareholders of $514.2 million (U.S.), or $2.52 per share, in the fourth quarter, ended Dec. 31. The company reported total revenue of $416.3 million in the quarter.
U.S.-based chain Burger King bought Tim Hortons for $12.64 billion in August, creating the world’s third-largest quick-service restaurant group.
