MTY reports record earnings for its 2012 fiscal period

TSX Trading Symbol: "MTY"

MONTREAL, Feb. 14, 2013 /CNW Telbec/ - MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY), franchisor and operator of multiple concepts of quick service restaurants, reports today the results of its operations for the fourth quarter and fiscal year ended November 30, 2012.

Highlights of the fourth quarter and fiscal year:

• Net income reaches historical highs of $22.1 million for the year ($1.15 per share) and $6.3 million for the quarter ($0.33 per share)
• EBITDA increases 34% for the year
• Cash and cash equivalent at the end of the year at $33.0 million
• System wide sales grow 31% to $688.7 million for the year
• Same store sales growth of 1.08% for the year; decline of 0.91% for the fourth quarter
• Number of locations decreases to 2,199 locations

(In thousands of $, except per share information)
	3-month period ended			12-month period ended
	November 30, 2012	November 30, 2011		November 30, 2012	November 30, 2011
Revenues	26,347	23,116	14%	96,220	78,358	23%
Operating expenses	17,369	15,316	13%	61,294	51,928	18%
EBITDA	8,978	7,800	15%	34,926	25,983	34%
Income before taxes	8,187	6,887	19%	30,504	22,821	34%
Net income attributable to shareholders	6,263	4,733	32%	22,067	16,194	36%
Basic and diluted EPS	0.33	0.25		1.15	0.85

Note: These are financial highlights only. Management's Discussion and Analysis, the consolidated financial statements and notes thereto for the year ended November 30, 2012 will be available on the SEDAR website at www.sedar.com and on the Company's website 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 is available in the Company's Management Discussion and Analysis, which can be found on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of
MTY Food Group Inc.

_____________________________________
Stanley Ma, Chairman, President & CEO

 

 

 

SOURCE: MTY FOOD GROUP INC.

Eric Lefebvre, Chief Financial Officer at 1-514-336-8885 or by email at [email protected], or visit our website: www.mtygroup.com or SEDAR's website at www.sedar.com under the Company's name.