MTY reports results for the second quarter of its 2013 fiscal period

TSX Trading Symbol: "MTY"

MONTREAL, July 3, 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 second quarter of its 2013 fiscal year.

Highlights of the second quarter of 2013:

• Net income attributable to owners increases by 18% in the second quarter compared to the same period last year, at $6.3 million ($0.33 per share)
• Revenues grow by 7% year over year, exceeding $25 million in the second quarter
• System sales reach $174.7 million, up 1.5% compared to the same period in 2012. After six months, system sales were $336.1 million
• Same-store-sales decline by 1.4% in the second quarter, impacted by a weak month of March which was partially offset by slightly positive results in April and May
• Cash position was at $38.0 million at the end of the second quarter
• The company had 2,213 locations in operation on May 31^st, 2013.
  

(in thousands of $, except per share information)
	Three months ended			Six months ended
	May 31, 2013	May 31, 2012	Variance	May 31, 2013	May 31, 2012	Variance
Revenue	25,342	23,689	7%	47,970	45,634	5%
Operating expenses	15,791	15,057	5%	29,616	29,622	0%
EBITDA	9,551	8,632	11%	18,354	16,012	15%
Income before taxes	8,365	7,728	8%	16,062	13,891	16%
Net income attributable to owners	6,250	5,283	18%	11,885	9,674	23%
Basic and fully diluted earnings per share	$0.33	$0.28		$0.62	$0.51

Note: These are financial highlights only. Management's Discussion and Analysis, the condensed interim consolidated financial statements and notes thereto for the quarter ended May 31, 2013 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.

For more information please contact 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.