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TORONTO— Reuters
Last updated Thursday, May. 12, 2011 8:19AM EDT
Tim Hortons Inc. (THI-T46.05-1.82-3.80%), Canada’s biggest restaurant chain, reported a higher quarterly profit Thursday on strong sales growth at its established stores.
First-quarter earnings rose to $80.7-million, or 48 cents a share, from $78.9-million, or 45 cents a share, a year before.
Revenue rose 10.4 per cent to $643.5-million.
The Tim Hortons franchise model Sales at stores open for at least a year, a key measure for retailers, were up 2 per cent in Canada and up 4.9 per cent in the United States.
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