Tim Hortons Owner Has 87% Profit Increase
CBJ — Restaurant Brands International, the parent company of Tim Hortons and Burger King, posted a whopping 87% increase in profits during the second quarter, ended June 30.
The massive profit spike comes in spite of a number of high-profile cases of rebellious Tim Hortons franchisees who are not happy with a number of the corporate requirements.
RBI earned $167.6 million in its most recent quarter, an increase from $89.5 million in the year-earlier quarter.
The numbers reveal the company is rebounding from months of public feuding with the Great White North Franchisee Association, which claims to represent at least half of Tim Hortons franchisees, over everything from alleged misuse of a national advertising fund to cuts to employee benefits after Ontario’s minimum wage.
A number of restaurant renovations, all-day breakfast, and word of 1,500 locations new to open in China are among the reasons why Tim Hortons seems to still be riding a high.
Tim Hortons system-wide sales grew by more than 2% in the latest quarter. During the same period, RBI’s other brands Popeye’s Louisiana Kitchen and Burger King saw growth of 11% and 8%, respectively.