MTY Food Group Increases Profits and Revenues

(Montreal) MTY Food Group reported Tuesday that its second-quarter profit rose from a year ago as acquisitions contributed to revenue growth.

The Montreal-based franchisor and restaurant operator says its net income attributable to owners totaled $30.4 million, or $1.24 per diluted share for the quarter ended May 31, compared to $28.6 million, or $1.17 $ per diluted share a year earlier.

Revenue for the quarter was $305.2 million compared to $162.5 million a year earlier.

MTY says the main contributors to revenue growth were its acquisitions of BBQ Holdings, Wetzel’s Pretzels and Sauce Pizza and Wine.

Overall, same store sales in the quarter increased 5% year over year. Those in Canada rose 6%, while those in the United States rose 4%. International business grew by 2%.

Company quoted in this dispatch: MTY Food Group (TSX: MTY)

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