[Levin]

Wed, 17 May 2023 at 8:24 pm SGT


BENGALURU/CHENNAI (Reuters) - Restaurant Brands Asia Ltd, earlier known as Burger King India, reported a wider fourth-quarter loss on Wednesday, as it spent more on ingredients at a time when it is also expanding in India and Indonesia.

Restaurants in India have been feeling the pinch from rising costs of essentials such as cheese and milk, with expenses rising in recent quarters even as prices of vegetables have eased off their highs.

They are also wrestling with a slowdown in demand from inflation-weary consumers.

Earlier in the day, Domino's franchisee Jubilant Foodworks and KFC-operator Devyani International also reported downbeat results, in line with the performances of McDonald's-operator Westlife FoodWorld and Yum Brands franchisee Sapphire Foods.


https://www.reuters.com/business/retail-...023-05-17/