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MTY - MTY Food Inc News Story

C$52.17 -0.7  -1.3%

Last Trade - 6:15pm

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £755.4m
Enterprise Value £1.31bn
Revenue £277.2m
Position in Universe 261st / 2711

BRIEF-MTY Food Group Reports Q2 Loss Per Share C$4.01

Fri 10th July, 2020 11:11am
July 10 (Reuters) - MTY Food Group Inc  MTY.TO :
    * MTY REPORTS SECOND QUARTER RESULTS
    * Q2 LOSS PER SHARE C$4.01
    * Q2 SALES FELL 19 PERCENT TO C$670.7 MILLION
    * QTRLY NON-CASH IMPAIRMENT CHARGE OF $120.3 MILLION RELATED
TO
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL
    * CASH ON HAND OF $49.9 MILLION AS AT MAY 31, 2020
    * MANAGEMENT INITIATIVES RESULTING IN A REDUCTION OF
RECURRING
CONTROLLABLE EXPENSES OF $10.1 MILLION FOR Q2
    * OVERALL CUSTOMER TRAFFIC REMAINS AFFECTED BY VARIOUS LOCAL
REGULATIONS AND CHANGES IN CONSUMER BEHAVIOR
    * MTY FOOD GROUP - IN QUARTER, AMENDED EXISTING CREDIT
FACILITY
WITH MORE FLEXIBLE FINANCIAL COVENANTS FOR NEXT FOUR QUARTERS

Source text for Eikon:  ID:nCNWfLjYLa 
Further company coverage:  MTY.TO 

 ((Reuters.Briefs@thomsonreuters.com;))
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