MTY Food Group Reports Q3 2015 Net Income Growth

MTY Food Group Inc. announced its financial results for the third quarter of fiscal year 2015, reporting a 15% increase in net income compared to the same period last year. Net income attributable to owners reached $8.2 million, or $0.43 per share.

The company's EBITDA rose by 27% to $13.3 million during the quarter, driven by strong performance in its franchising segment. Total revenue for the quarter was $35 million, a 16% increase year-over-year. This represents a notable increase from the previous year's EBITDA of $10.5 million.

System-wide sales grew by 19% to $274.7 million in the third quarter. For the first nine months of 2015, system sales reached $790.9 million, up 22% from the prior year. The total number of franchised and corporate stores in operation stood at 2,740 at the end of the quarter.

Despite the overall sales growth, same-store sales saw a slight decline of 1.6% in the third quarter, impacted by a weaker performance in August. Cash flow from operations was $17.8 million, and the company held $20.5 million in net cash as of August 31, 2015.