Profit at Canadian coffee and doughnut chain Tim Hortons Inc, which is being bought by Burger King Worldwide Inc, beat market estimates in the third quarter as customers opted for the more expensive items on the company's menu.Net income fell about 14 percent, however, mostly due to costs related to U.S. fast-food chain Burger King's C$12.64 billion ($11.06 billion) takeover deal, Tim Hortons said on Wednesday.On Tuesday, Burger King reported its strongest quarterly growth in North American same-restaurant sales in two years."Both Tim Hortons and Burger King have good franchisee-level sales momentum heading into the merger of their businesses," Desjardins analyst Keith Howlett said in a client note.
Burger King Worldwide, Inc. is a fast food hamburger restaurant, under the Burger King brand. Shares of BKW traded higher by 2.9% or $0.935/share to $33.12. In the past year, the shares have traded as low as $20.14 and as high as $34.20. On average, 2517040 shares of BKW exchange hands on a given day and today's volume is recorded at 418263.
Tim Hortons Inc., is a quick service restaurant in North America. Shares of THI traded higher by 0.48% or $0.39/share to $80.96. In the past year, the shares have traded as low as $50.67 and as high as $82.16. On average, 1466720 shares of THI exchange hands on a given day and today's volume is recorded at 206026.
Tim Hortons Inc., is a quick service restaurant in North America. Shares of THI traded higher by 0.49% or $0.45/share to $92.29. In the past year, the shares have traded as low as $56.12 and as high as $92.25. On average, 1068020 shares of THI.TO exchange hands on a given day and today's volume is recorded at 129999.
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