The Globe and Mail reports in its Friday, Sept. 4, edition that the company that operates the
Pizza Delight, Baton Rouge,
Mikes and other restaurant
chains in Eastern Canada says
sales improved in its third quarter
and net income rose by 39
per cent to $2.5-million.
A Canadian Press dispatch to The Globe reports that Imvescor Restaurant Group
($2.17) says total sales by restaurants
under its banners increased
to $96.7-million from
$95.9-million in last year's third
quarter, an increase of 0.8 per
cent.
Sales at restaurants open for at a least a year grew by 1.2 per cent, compared with a 3.1-per-cent decline a year earlier. Imvescor's own revenue
declined to $11.04-million from
$11.51-million, but its profit improved
to four cents a share from
three cents a share or $1.78-million in the third quarter of 2014. As of the end of the quarter on July 26, Imvescor had 228 locations under its various banners in Atlantic Canada, Quebec and Ontario -- seven fewer than a year before.
Imvescor says the third quarter demonstrated the potential of its strategic plan to improve sales and profitability. Chief executive officer Frank Hennessey says, "We are very encouraged by these results."
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