Itsa free market man..
Tim Hortons profit down 14% on Burger King deal costs
Tim Hortons Inc. said Wednesday it earned $98.1 million in its latest quarter, down from $113.9 million a year ago, as it was hit by costs related to Burger King's deal to buy the company.
The coffee and doughnut chain said the profit amounted to 74 cents per share in its latest quarter, down from 75 cents per share a year ago.
Total revenue amounted to $909.2 million, up from $825.4 million.
Excluding $27.3 million in costs related to the deal with Burger King Worldwide Inc. and 3G Capital as well as $1 million in corporate reorganization costs, Tim Hortons said it earned an adjusted operating profit of $196.1 million for the quarter, up from $169.8 million a year ago.
http://www.cbc.ca/m/news/business/tim-hortons-profit-down-14-on-burger-king-deal-costs-1.2824351
Tim Hortons profit down 14% on Burger King deal costs
Tim Hortons Inc. said Wednesday it earned $98.1 million in its latest quarter, down from $113.9 million a year ago, as it was hit by costs related to Burger King's deal to buy the company.
The coffee and doughnut chain said the profit amounted to 74 cents per share in its latest quarter, down from 75 cents per share a year ago.
Total revenue amounted to $909.2 million, up from $825.4 million.
Excluding $27.3 million in costs related to the deal with Burger King Worldwide Inc. and 3G Capital as well as $1 million in corporate reorganization costs, Tim Hortons said it earned an adjusted operating profit of $196.1 million for the quarter, up from $169.8 million a year ago.
http://www.cbc.ca/m/news/business/tim-hortons-profit-down-14-on-burger-king-deal-costs-1.2824351