MONTREAL — MTY Food Group Inc. says its third-quarter profit was down compared with a year ago, even as revenue rose.
The Montreal-based restaurant franchisor and operator says its net income attributable to owners totalled $22.4 million, or $0.92 per diluted share, for the quarter ended Aug. 31.
The result compared with a profit of $24.3 million, or $0.98 per diluted share, in the same period last year.
Total revenue for the quarter totalled $171.5 million, up from $150.8 million a year earlier, with revenue from franchise locations in Canada increasing 15 per cent.
Revenue in the company's U.S. and International segment declined by one per cent.
MTY says its franchisees are still facing significant supply chain challenges, as well as labour shortages, which are affecting their ability to conduct business optimally.
This report by The Canadian Press was first published Oct.7, 2022.
Companies in this story: (TSX:MTY)
The Canadian Press
Note to readers: This is a corrected story. A previous version said profit was up.
