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Nov 9, 2018

Recipe Unlimited profit rises to $23.8M in third quarter

Swiss Chalet

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VAUGHAN, Ont. -- Recipe Unlimited Corp. (RECP.TO) earned $23.8 million in its latest quarter, up from $21.2 million a year ago.

The company formerly known as Cara Operations says the profit amounted to 37 cents per diluted share for the three-month period ended Sept. 30, up from 34 cents per share a year ago.

System sales totalled $879.8 million, up from $684.7 million in the same quarter last year.

On an adjusted basis, Recipe Unlimited says it earned 50 cents per diluted share, up from 46 cents per diluted share a year ago.

Analysts on average had expected a profit of 47 cents per share, according to Thomson Reuters Eikon.

Recipe Unlimited had 1,370 restaurants at Sept. 30, including 1,311 in Canada and 59 located internationally. Its brands includes Swiss Chalet, Harvey's, St-Hubert, the Keg, Milestones, Montana's, Kelsey's, East Side Mario's, New York Fries and others.