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CARA OPERATIONS ANNOUNCES YEAR-END RESULTS

 CARA OPERATIONS ANNOUNCES YEAR-END RESULTS
 TORONTO, May 14 /PRNewswire/ -- On behalf of Cara Operations


Limited, the chairman & chief executive officer, M. Bernard Syron and the president & chief operating officer, Gunter B. Otto, are pleased to announce Cara's results for the year ended March 29, 1992 as follows:
 CARA OPERATIONS LIMITED
 Summary of Financial Information
 Periods Fourth quarter Year
 ended 3/29/92 3/31/91 3/29/92 3/31/91
 System
 Sales $362,971,000 $333,486,000 $1,205,697,000 $994,865,000
 Net Profit 10,677,000 10,372,000 30,835,000 35,624,000
 Earnings
 Per Share 9.1 9.0 26.3 31.0
 Shares
 Out-
 standing 117,431,727 117,431,727 117,431,727 117,431,727
 The system sales for the fourth quarter have increased by 8.8 percent over the same quarter last year mainly due to the acquisition of Arvak Limited and modest increases posted by the Airline Services and Swiss Chalet divisions. System sales for the year have increased by 21.2 percent primarily because of the acquisition of Arvak Limited and Grand & Toy Limited and steady performance by Swiss Chalet.
 Earnings for the fourth quarter increased by 2.9 percent over the comparable quarter in the previous year due primarily to Swiss Chalet and Harvey's.
 While our travel related businesses have shown some recovery, our office supplies and furniture business is still feeling the effect of the recession.
 The corporation will pay a dividend of four cents per share on June 30, 1992 to common and Class A shareholders of record on June 16, 1992.
 Profile
 Cara Operations Limited is a leader in the food services/hospitality industry and in the retailing and commercial distribution of office products/furniture.
 Family style dining is offered at Swiss Chalet and Steak & Burger Restaurants. Specialty and fine dining is available at restaurants operating under various names at certain office complexes, airports, railway stations and shopping plazas in major urban centers throughout Canada, and in certain Florida and New York State cities. Fast food service featuring charbroiled hamburgers and chicken is served at Harvey's and Harvey's Plus while Hershel's offers delicatessen fare. Home delivery service for charbroiled chicken and ribs is offered through Swiss Chalet. The Airline Services division provides catering and ancillary services to major Canadian and international airlines through flight kitchens and commissaries across Canada.
 Office products and furniture are offered through Grand & Toy retail outlets and commercial distribution centers in many major cities in Canada.
 Cara also operates gift stores and news-stands at airports, hotels, railway stations and shopping malls throughout Canada.
 The Arvak Limited group of companies, principally through its subsidiaries, Beaver Foods Limited and Les services alimentaires CVC Inc. provides contract food service management to high schools, colleges, universities, rest homes, hospitals, corporate and government cafeterias, and remote camps throughout Canada, while Summit Food Distributors Inc. is engaged in wholesale food distribution primarily in Southern Ontario.
 -0- 5/14/92
 /CONTACT: Michael Nahirny, senior vice president, finance & administration & chief financial officer of Cara Operations, 416-962-4571/
 (CAO.) CO: Cara Operations Limited ST: Ontario IN: FOD SU: ERN
 -30- +++&t_f3
 () CO: Cara Operations Limited ST: Ontario IN: LEI SU: ERN


LR -- NY110 -- 0508 05/14/92 18:17 EDT
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Publication:PR Newswire
Date:May 14, 1992
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