Canadian restaurant chain MTY Food Group (MTY) has reported that its fiscal second quarter net income rose 6% from a year earlier to $30.4 million.
The Montreal-based company said its Q2 net income equaled $1.24 per share, up from $28.6 million, or $1.17 per share, a year ago.
Revenue in the quarter ended May 31 totaled $305.2 million, up 88% from $162.5 million in the year earlier quarter.
However, the big jump in revenue growth was driven by MTY Food Group’s recent acquisitions of BBQ Holdings, Wetzel's Pretzels, and Sauce Pizza and Wine.
Overall, same-store sales in Q2 rose 5% year-over-year.
MTY Food Group owns more than 70 quick service restaurant brands, including Thai Express, Country Style coffee shops, and Extreme Pita.
The company’s stock has gained 13% over the past year to trade at $61.36 per share.
