MONTREAL — MTY Food Group Inc. reported its first-quarter profit fell compared with a year ago as it was hit by foreign exchange losses taken primarily on intercompany loans.
The restaurant company behind dozens of brands including Manchu Wok, Thaï Express and Mr. Sub says its net income attributable to owners amounted to $1.7 million or seven cents per diluted share for the quarter ended Feb. 28.
The result compared with a profit of $17.3 million or 71 cents per diluted share in the same quarter a year earlier.
On an adjusted basis, MTY says it earned 87 cents per diluted share compared to an adjusted profit of 69 cents per diluted share in the same quarter last year.
Company revenue totalled $284.8 million, up from $278.6 million, while system sales for the quarter totalled $1.36 billion, up from $1.33 billion a year earlier.
In its outlook, MTY says while momentum is encouraging, it is prepared for potential headwinds as consumers adjust to the impacts of the recently announced tariffs.
This report by The Canadian Press was first published April 11, 2025.
Companies in this story: (TSX:MTY)
The Canadian Press
