In the third quarter report made public, Tim Hortons has reported a 22% loss in profits. Revenue, on the other hand, has surged by 11%. Sales in both America and Canada have also seen a definite improvement. Expenditure and costs involved in the firm's decision to move and reorganize as a Canadian company have been blamed by Tim Horton as the main reason for a negative profit.

According to the figures made public, the company's earnings for the July-September period for this year fell to C$61.2 Million, or 34 Canadian cents per share, from last year's figures for the same period which stood at C$78.8 million or 43 Canadian cents a share. Analysts polled had estimated earnings of 46 Canadian cents per share.

Reported revenue, however, rose to C$564 Million, 11% more than the revenue reported last year. This beat the expectations of the analysts who had pegged the revenue at C$552 Million.

Some of the manufacturing jobs aren’t coming back the way we expected them to”, Chief Financial Officer Cynthia Devine said. "We’re seeing that in regions like Ontario, which had a heavy reliance on the automotive industry and U.S. trading. People have been coming into Tim Hortons to meet people, have a cup of coffee and get out of the house. We’re more resilient than most".

As the company gears up to enter into the new quarter and a new year, it is looking to improve sales and stabilize its profits.