MTY reports record results for the second quarter of its 2015 fiscal period

About this update from Mty Food Group Inc.

[{"type":"text","content":"\n\nTSX Trading Symbol: \"MTY\"\n\n\n\nMONTREAL, July 8, 2015 /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 2015 fiscal year.\n\nHighlights of the second quarter of 2015:\n\n\nNet income attributable to owners reaches a historical high of $8.5 million ($0.44 per share) in the second quarter of 2015, a 17% increase over the second quarter of last year. \nEBITDA for the quarter grows by 18%, at $13.4 million, fuelled by strong results of the franchising segment. \nCash flows from operations were $11.4 million during the second quarter, compared to $6.0 million a year earlier. \nSystem sales increased by 23% compared to 2014, reaching $269.5 million for the second quarter and $516.2 million for the first half of 2015. \nSame-store-sales were down 0.1% during the quarter, with sluggish consumer spending and intense competition were compounded by some softness in Western Canada. \nThe were 2,792 franchised and corporate stores in operations at the end of the second quarter\n\n\n\n(in thousands of $, except per share information)\n\n\n\n\n\nThree months ended\n\n\n\nSix months ended\n\n\n\n\nMay 31, 2015\n\n\nMay 31, 2014\n\n\n\nMay 31, 2015\n\n\nMay 31, 2014\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n38,355\n\n\n29,402\n\n\n30%\n\n\n70,719\n\n\n55,004\n\n\n29%\n\n\n\nOperating expenses\n\n\n24,911\n\n\n17,997\n\n\n38%\n\n\n46,852\n\n\n34,113\n\n\n37%\n\n\n\nEBITDA\n\n\n13,444\n\n\n11,405\n\n\n18%\n\n\n23,867\n\n\n20,891\n\n\n14%\n\n\n\nAmortization and depreciation charges\n\n\n2,122\n\n\n1,751\n\n\n21%\n\n\n4,168\n\n\n3,502\n\n\n19%\n\n\n\nOther income and charges, including interest\n\n\n347\n\n\n295\n\n\n18%\n\n\n635\n\n\n160\n\n\n397%\n\n\n\nIncome before taxes\n\n\n11,669\n\n\n9,949\n\n\n17%\n\n\n20,334\n\n\n17,549\n\n\n16%\n\n\n\nNet income attributable to owners\n\n\n8,501\n\n\n7,266\n\n\n17%\n\n\n14,720\n\n\n12,803\n\n\n15%\n\n\n\nBasic and diluted earnings per share\n\n\n0.44\n\n\n0.38\n\n\n\n0.77\n\n\n0.67\n\n\n\n\nLocations in operation\n\n\n\n\n\n2,792\n\n\n2,585\n\n\n8%\n\n\n\nSystem sales\n\n\n269,536\n\n\n218,991\n\n\n23%\n\n\n516,237\n\n\n419,584\n\n\n23%\n\n\n\nSame store sales\n\n\n-0.1%\n\n\n-2.0%\n\n\n\n+0.3%\n\n\n-1.8%\n\n\n\n\n\n\nNote: Thes...

More updates from Mty Food Group Inc.