Price increase and new food options, major contributors
Investors were relieved Thursday when Tim Hortons reported a 1.5 per cent increase in quarterly profits, even amid rising commodity costs. Price increases and the company’s line of new products, including the popular fruit smoothie, were the main contributors to its 10 per cent revenue jump in its second-quarter results. Profits climbed from $94.1 million dollars last year, to $95.5 million dollars this year. Net earnings rose from 54 cents per share to 58 cents per share.