Canadian franchisor and operator of multiple concepts of restaurants MTY Food Group has reported total revenue of $353.3m for the fiscal year ending 30 November 2018 (FY2018).
Revenue increased by 28% from $276.1m registered the previous year.
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Growth was mainly driven by the acquisitions of Imvescor Restaurant Group and The Counter Custom Burger.
For the full year of 2018, the company’s system sales were up 20.9% reaching $2.78bn, compared to $2.30bn in 2017.
The restaurant company also reported a net income attributable to shareholders of $98.48m, compared to $49.50m for the same period in the previous year.
In addition, the restaurant chain reported a 36% increase in EBITDA to $127.7m, compared $93.7m for the same period in the previous year.
Cost of sales and operating expenses of the company increased by 24% to $225.6m, compared to $182.4m from the previous year.
For the fourth quarter, system sales were up 30% reaching $707.4m compared to 2017, while same-store sales were down 1.3%.
Furthermore, MTY Food completed the acquisition of all of the assets of the sweetFrog Premium Frozen Yogurt franchise system for $32.1m on 25 September.
The company also closed the acquisition of substantially most of the assets of Casa Grecque for a total consideration of $22.4m, as well as signed an agreement to buy the assets of South St Burger on 11 December 2018.
MTY currently operates 5,984 locations including 65 corporate and 5,919 franchised locations worldwide.
