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Tim Horton's Books Bigger Profit

Posted: Nov. 11th, 2011  |  By Forbes

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Tim Horton's reported a solid gain in third quarter earnings today.

The quick service restaurant said profits rose to $103.6 million Canadian, or $0.65 Canadian per share, from $81.7 million Canadian, or $0.42 per share, in last year's third quarter.

Results beat analyst estimates.

Revenue rose 8%, to $727 million Canadian, on same-store sales growth of 6.3% in the US and 4.7% in Canada.

At the same time that Tim Horton's (nyse: THI - news - people ) has been beefing up its espresso and savory offerings, it has faced increased competition from rivals like McDonald's (nyse: MCD - news - people ) , which has been increasing its breakfast options.

Tim Horton's also competes with traditional coffee and pastry restaurants like Dunkin Brands' Dunkin Donuts and Starbucks (nasdaq: SBUX - news - people ) .

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