December 22, 2024

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Tim Hortons’ parent company loses whopping $514m in Q4

The cost of buying Tim Hortons pushed Restaurant Brands International Inc. (TSX:QSR), the company behind Tim Hortons and Burger King, into a whopping loss of $514.2 million U.S. or $2.52 per share in its latest quarter, compared with a profit of $66.8 million or 19 cents per share a year earlier.Revenue totalled $416.3 million, up from $265.2 million. The company keeps its books in U.S. dollars.The loss for the quarter included a $143-million loss related to derivatives and $94.3 million attributed to the Tim Hortons deal and restructuring costs.Comparable store sales were up 4.1 per cent for Tim Hortons, while Burger King…

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