OAKVILLE, ONT.—The owner of Tim Hortons and Burger King has served up a big jump in profit.

Restaurant Brands International Inc. (RBI) says its net income for the 12 months ended Dec. 31 was $345.6 million (U.S.), or $1.45 per share, including $118.4 million or 50 cents per share in the fourth quarter.

The full-year profit, reported in U.S. currency, was up from $103.9 million or 50 cents per share in 2015 and fourth-quarter net income was up from $51.7 million or 25 cents per share.

RBI says its full-year revenue was up 2.3 per cent, while revenue in the fourth quarter was up 5.2 per cent year-over-year.

Total revenue for 2016 was $4.15 billion, including $1.11 billion in the fourth quarter. Revenue in 2015 was $4.05 billion, including $1.06 billion in that year’s fourth quarter.

Tim Hortons accounted for $3 billion of RBI’s total annual revenue while Burger King contributed $1.14 billion for the year.

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