MTY Food Group reports $36.9-million first-quarter profit, sales down from year ago

MTY Food Group reported first-quarter profit attributable to owners of $36.9 million, with results boosted by a foreign exchange gain from revaluing U.S.-dollar denominated intercompany debt. The headline profit reflects currency effects rather than underlying operating strength, making the update largely neutral for investors.

Analysis

MTY Food Group reported first-quarter profit attributable to owners of $36.9 million, with results boosted by a foreign exchange gain from revaluing U.S.-dollar denominated intercompany debt. The headline profit reflects currency effects rather than underlying operating strength, making the update largely neutral for investors.