Apr 27th, 2006, 13:26
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UPDATE 1-Tim Hortons profit jumps 34 pct on robust sales Thu Apr 27, 2006 10:31 AM ET TORONTO, April 27 (Reuters) - Canadian coffee and doughnut chain Tim Hortons Inc. (THI.TO: Quote, Profile, Research) (THI.N: Quote, Profile, Research), which went public last month, reported a 34 percent jump in first-quarter profit on Thursday, lifted by strong sales. The company, whose initial public offering whipped up huge interest in Canada, said it earned C$63.6 million ($56.3 million), or 39 Canadian cents a share for the quarter ended April 2, compared to C$47.5 million, or 30 Canadian cents in the same quarter a year earlier. FACT BOX THI.TO (Tim Hortons Inc) Last: $31.54 Change: +0.98 Up/Down: +3.21% MayAugNovFeb Quote Full Chart Company Profile Analyst Research News for THI.TO UPDATE 2-Wendy's earnings down, shares up on cost cuts UPDATE 1-Tim Hortons profit jumps 34 pct on robust sales Tim Hortons posts higher first-quarter profit The company, majority-owned by Wendy's International (WEN.N: Quote, Profile, Research), said revenue rose 15 percent to C$373 million from C$324 million. Same-store sales rose 8.7 percent in Canada and 9.8 percent in the United States. Shares of Tim Hortons were up 80 Canadian cents at C$31.36 on the Toronto Stock Exchange on Thursday, about 16 percent above their C$27 initial offering price. ($1=$1.12 Canadian) |
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