National Post - Financial Post Magazine

MORE THAN A DOUBLE-DOUBLE

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Like the Bloody Caesar, a double-double coffee is a uniquely Canadian drink that disgusts most others, but Tim Hortons sells a lot of them and that explains the rise of Restaurant Brands Internatio­nal Inc., which posted a 290.9% jump in revenue to $5.2 billion. The reason: its results include a full year of revenue from Tim Hortons, which was merged with Burger King in a $12.5-billion deal to create a fast-food behemoth. Last year’s results only included three weeks of Tim Hortons’ revenues since the deal closed Dec. 12, 2014. It’s RESTAURANT BRANDS INTERNATIO­NAL INC. worth noting that the combined company is officially headquarte­red in Oakville, Ont., to take advantage of Canada’s more favourable corporate tax environmen­t, allowing Tim Hortons fans to still claim it as a Canadian icon.

As for that other one-time Canadian icon, BlackBerry Ltd., it continued its slide since 2010, falling 33 spots to No. 149 by posting a 24.9% drop in revenue to $2.8 billion. Even those without long memories should be able to recall when the company, then called Research In Motion Ltd., was Canada’s 13th largest company. It was only six years ago and the company had more than seven times its current revenue.

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