Tim Hortons Inc. has served up a fatter profit for its investors and says it will roll out a new distribution centre in eastern Ontario by next year.
The Canadian purveyor of coffee, snacks and light meals says it had $78.9-million in profit in the first three months of this year - up 18.7 per cent from last year.
On a per-share basis, diluted earnings rose to 45 cents from 37 cents.
Tim Hortons says its first-quarter revenue was up 4.8 per cent, rising to $582.6-million including franchise fees, rents and royalties.
Its board has also approved construction of a replacement distribution centre in Kingston, Ont., to supply about 650 restaurants in Ontario and Quebec.
The new Kingston distribution centre will cost about $45-million by the time its operational in the second half of 2011.
The company delivered its results a day ahead of its annual meeting in Toronto.
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