TSX Trading Symbol: "MTY"
MONTREAL, April 26, 2012 /CNW Telbec/ - MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY), franchisor and operator of 2,232 quick service restaurants, reports today the operating results for the first three months of its 2012 fiscal year.
Highlights of the first quarter:
- Earnings per share reach $0.23 representing an increase of 26% over same period last year
- Same store sales growth of 3.64% during the quarter
- System sales grow 39% to $163.2 million
- Cash flows from operations of $6.4 million contribute to liquidities position at quarter end of $16.1 million
- EBITDA surges by 39% to 7.4 million
- Revenues grow to $21.9 million, from $16.8 million in the first quarter of 2011
- Results now reported using International Financial Reporting Standards
|In thousands of $|
|February 29, 2012||February 28, 2011||Variance|
|Income before taxes||6,163||5,052||22%|
|Net income attributable to shareholders||4,392||3,490||26%|
|Basic and diluted EPS||$0.23||$0.18||26%|
|Cash flows from operations||6,353||2,264||181%|
Note: These are financial highlights only. Management's Discussion and Analysis, the unaudited condensed interim consolidated financial statements and notes thereto for the quarter ended February 29, 2012 will be available on the SEDAR website at www.sedar.com and on the website of MTY Food Group Inc. at www.mtygroup.com.
Certain information in this News Release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Company or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this News Release, this information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this News Release. Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information on the Company is available on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
MTY Food Group Inc.
Stanley Ma, Chairman, President & CEO
For further information:
For more information please contact Jean-Francois Dube, Investor Relations at 1-450-226-8475 or by email at [email protected] or visits our website: www.mtygroup.com or visit SEDAR's website at www.sedar.com under the Company's name.