Tim Horton's expanding into the Philippines and opening more US outlets
The parent company of Tim Hortons has reported a big increase in quarterly profits compared with the same quarter last year, in spite of the fact that revenue is flat.
|The flat revenue was mainly the result of the negative impact of currency fluctuation in spite of growth in sales volume. Tim Hortons is owned by Restaurant Brands International(RBI). The result for the second quarter of 2016 ending on June 30th was a net income of $90.9 million US or 38 cents per share. In the second quarter of 2015 the net income was just $11.0 million or five cents a share. The revenue stream was $759.8 million from Tim Hortons and $280.4 million from Burger King. This has changed little since last year.|
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