Canadian coffee chain Tim Hortons posts 9 pct rise in revenue

Wed Aug 6, 2014 7:47am EDT
 
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Aug 6 (Reuters) - Tim Hortons Inc , Canada's biggest coffee and doughnut chain, reported a 9.3 percent rise in quarterly revenue due to a rise in the average cheque per person.

Net income attributable to Tim Hortons was flat at C$123.8 million ($112.8 million) in the second quarter ended June 29. On a per share basis, profit rose to 92 Canadian cents from 81 Canadian cents as the company bought back shares in the quarter.

The company, which serves nearly three of every four cups of coffee sold in Canada, said revenue increased to C$874.3 million from C$800.1 million.

Tim Hortons said sales at restaurants open for 13 months or more increased 2.6 percent in Canada and 5.9 percent in the United States. ($1 = 1.0974 Canadian Dollars) (Reporting by Susan Taylor in Toronto and Ashutosh Pandey in Bangalore; Editing by Savio D'Souza)