Tim Hortons profit falls on costs related to Burger King deal

Wed Nov 5, 2014 7:46am EST
 
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Nov 5 (Reuters) - Canadian coffee chain Tim Hortons Inc's quarterly net profit fell about 14 percent due to C$27.3 million ($23.9 million) in costs related to its proposed takeover by Burger King Worldwide Inc.

Tim Hortons' same-store sales in Canada rose 3.5 percent in the third quarter ended Sept. 28 and 6.8 percent in the United States.

Net income attributable to the company fell to C$98.1 million, or 74 Canadian cents per share, from C$113.9 million, or 75 Canadian cents per share, a year earlier.

Burger King said in August it would buy Tim Hortons in a deal worth C$12.64 billion that would create the world's third-largest fast-food restaurant group. ($1 = C$1.1441) (Reporting by Sayantani Ghosh in Bangalore; Editing by Savio D'Souza)