MTY Food Group reports Q2 profit up from year ago, same-store sales edge higher

MONTREAL — MTY Food Group Inc. reported a profit of $19.3 million in its latest quarter, up from $16.2 million in the same period last year.

The franchisor and operator of a broad range of restaurants says the profit amounted to 76 cents per share for the quarter ended that May 31, up from 64 cents per share a year earlier.

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Revenue in MTY's second quarter totalled $130.6 million, up from $107.4 million, boosted by an increase in sales and the acquisition of Casa Grecque late last year.

MTY said consolidated same-store sales were up 0.6 per cent boosted by a 1.4 per cent improvement in Canada and a 0.6 per cent gain in the U.S.

Same-store sales in its international markets were down 9.2 per cent.

MTY's restaurants include shopping mall food court staples such as Thai Express, Vanellis and Manchu Wok, as well as full-service restaurants such as Baton Rouge, Pizza Delight and Scores.

Companies in this story: (TSX:MTY)

Note to readers: This is a corrected story. An earlier version incorrectly stated the company's revenue in its latest quarter.

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