MTY Food Group Inc. (MTY.TO), a Canadian franchisor and operator of casual dining, fast casual, and quick service restaurants, Friday reported net profit of $34.89 million or $1.46 per share for the third quarter, lower than $38.89 million or $1.59 per share in the same quarter a year ago, primarily on lower revenue.
Adjusted earnings before interest, taxes, depreciation, and amortization or adjusted EBITDA declined to $71.78 million from $72.87 million last year.
Excluding one-time items, normalized adjusted EBITDA was 71.9 million, down from 72.93 million a year ago.
Revenue for the quarter decreased to $292.75 million from $298.08 million in the previous year.
The company has declared a quarterly dividend of $0.28 per share, to be paid on November 15 to shareholders of record on November 5.
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