Tim Hortons Expanding To Spain In Joint-Venture Agreement

Restaurant Brands International Inc. says it has signed a deal with a joint-venture partner to take Tim Hortons to Spain.

OAKVILLE, Ont. — Restaurant Brands International Inc. says it has signed a deal with a joint-venture partner to take Tim Hortons to Spain.

The company, which also owns Burger King and Popeyes Louisiana Kitchen, made the announcement as it reported its second-quarter financial results.

Restaurant Brands, which keeps its books in U.S. dollars, says it earned a profit attributable to common shareholders of US$89.5 million or 37 cents per diluted share for the three months ended June 30.

That compared with a profit of $90.9 million or 38 cents per diluted share a year ago.

On an adjusted basis, the company said it earned $241.7 million or 51 cents per share in its latest quarter, up from $192.4 million or 41 cents per share in the same quarter last year.

Revenue totalled $1.13 billion, up from $1.04 billion a year ago, boosted by the acquisition of Popeyes.

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Author: Canadian Press