RY 174.39 2.4016% SHOP 149.115 2.5974% TD-PFM 24.63 -0.0811% TD-PFL 24.7 0.2028% TD 78.325 0.1214% ENB 60.6 1.3039% BN 80.4 1.9787% TRI 226.27 0.7525% CNQ 48.285 2.2771% CP 104.53 1.6038% CNR 151.74 1.5459% BMO 132.69 0.9203% BNS 78.845 0.1715% CSU 4600.2002 2.157% CM 91.15 0.474% MFC 45.79 1.6878% ATD 78.38 1.5285% NGT 60.14 0.0499% TRP 70.15 1.977% SU 57.44 0.5954%
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Acquisitions boost MTY Food Group's (TSX: MTY) revenues in Q3FY23
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Highlights
A franchisor in the quick service and casual dining food industry, MTY Food Group Inc (TSX: MTY) is involved in franchising and operating corporate-owned locations and sale of retail products under a multitude of banners. MTY has its operations based in Canada, the US and other regions.
During the second quarter of 2023, the firm’s revenue grew to CAD 305.2 million with 88% growth against CAD 162.5 million in Q2 2022. The jump in top-line business has been mainly because of the major contribution from the recent acquisitions. Also, there has been an 8.9% surge in the net income to CAD 30.4 million in Q2 2023, as compared to CAD 28.7 million in the previous corresponding period. MTY’s free cash flows also increased by 78% to CAD 45.1 million during Q2 2023 versus CAD 25.3 million in pcp.
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