MTY Food Group Inc, franchisor and operator of over 426 quick service restaurants, has announce a net income for the six-months ended 31 May 2005 of CA$1.66m (US$1.36m) compared to a net income of $878,597 for the same period last year.
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MTY operates under the banners of: Tiki Ming, Sukiyaki, La Cremiere, Cultures, Thai Express, Mrs. Vanellis, Pad Thai, Veggirama, Caferama, Au Vieux Duluth Express, Carrefour Oriental, Panini Pizza Pasta, Chick ‘N’ Chick, Franx Supreme, Croissant + Plus, and Villa Madina.
For the quarter ended 31 May 2005, net income was $942,609 compared to $467,692 for the same period last year.
The net income of $1.66m for the half included an amount of $164,408 for the stock option compensation for the six-month period ended 31 May 2005. There was no amount charged to the company for the same period last year.
Total revenues for the company increased by 27% to $8.19m for the half as compared to $6.45m for the same period last year.
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