MTY Food’s Q1 Profit Rises 25% As Restaurant Network Expands

Restaurant operator MTY Food Group (MTY) reported that its first-quarter profit and revenue
rose from a year earlier.

The Montreal-based company said it earned $16.6 million or $0.68 per diluted share for the
quarter ended February 28, up 25% from $13.4 million or $0.54 a share recorded a year ago.

Revenue totalled $140.5 million for the quarter, up 18% from $119 million in the same period of

MTY Food is the company behind more than 80 restaurant brands, including food court staples
such as Thai Express and Tiki-Ming.

MTY said 75 new locations opened across MTY's network in the first quarter, making it the best
first quarter in the company's history in terms of restaurant openings.

At the end of the quarter, MTY had 6,704 locations in operation across Canada, of which 89
were corporate and 6,615 were franchise owned.