Printer Friendly

CARA OPERATIONS LIMITED ANNOUNCES THIRD QUARTER RESULTS

 TORONTO, Jan. 14 /PRNewswire/ -- On behalf of Cara Operations Limited, the chairman and chief executive officer, M. Bernard Syron and the president and chief operating officer, Gunter B. Otto, report Cara's results for the third quarter ended Dec. 6, 1992 as follows:
 Twelve Thirty-six
 Weeks Weeks
 12/6/92 12/8/91 12/6/92 12/8/91
 System
 Sales $288,758,000 $294,397,000 $825,033,000 $842,726,000
 Net
 profit $8,481,000 $8,302,000 $20,786,000 $20,158,000
 Earnings
 per share $ .072 $ .071 $ .177 $ .172
 Net profit has increased by 2.1 per cent over the same quarter last year and by 3.1 per cent on a year-to-date basis. Interest cost reductions and steady performances from most divisions have more than offset the declining margins experienced in the third quarter by our Airline Services Division. The declining margins were due to reduced air travel and rationalization of onboard service costs by airline carriers.
 Cara's continued strong cash flow generation has enabled it to repay $9.0 million of debt during the quarter and $30.0 million year-to-date.
 During the quarter, the corporation paid its semi-annual dividend of 4 cents per share to Common and Class A shareholders.
 CARA OPERATIONS LIMITED
 Profile
 Cara Operations Limited is a leader in the food services industry and in the retailing and commercial distribution of office products/furniture.
 Family style dining is offered at Swiss Chalet and Steak & Burger Restaurants throughout Canada and in certain Florida and New York State cities. Fast food, 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 Airport Services Division provides catering and ancillary services to major Canadian and international airlines through flight kitchens and commissaries across Canada. It also operates restaurants, gift stores and newsstands at airports, hotels and railway stations.
 Office products and furniture are offered through Grand & Toy retail outlets and commercial distribution centers in many major cities in Canada.
 Beaver Foods Limited is the country's largest, most diverse, Canadian-owned contract catering company providing service to corporate and government cafeterias, high schools, colleges, universities, hospitals, nursing homes, institutions and remote resource camps across Canada. Beaver provides these services along with its divisions -- Les Services Alimentaires CVC Inc., Nutricare and CVC Services.
 Summit Foods Distributors Inc. is a full-line wholesale food distribution company operating primarily in Southern Ontario and the Ottawa Valley area through its locations at London, Ottawa and Fingal. Summit services a wide cross section of clients including institutions, healthcare, universities and restaurants.
 -0- 1/14/93
 /CONTACT: Michael Nahirny of Cara Operations Limited, 416-962-4571/


CO: Cara Operations Limited ST: Ontario IN: LEI SU: ERN

TM -- NY081 -- 5091 01/14/93 17:26 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 14, 1993
Words:469
Previous Article:LUBY'S CAFETERIAS DECLARES DIVIDEND
Next Article:AMERICAN STOCK EXCHANGE DAILY REPORT
Topics:


Related Articles
CARA OPERATIONS ANNOUNCES YEAR-END RESULTS
CARA OPERATIONS REPORTS RESULTS
CARA OPERATIONS LIMITED
CARA OPERATIONS DECLARES DIVIDEND
CARA OPERATIONS LIMITED ANNOUNCES 1ST QUARTER RESULTS
CARA OPERATIONS LIMITED REPORTS RESULTS
AMERICA'S FAVORITE CHICKEN COMPANY EXCEEDS EXPECTATIONS FOR YEAR ONE WITH STRONG OPERATING PROFIT AND SYSTEM SALES
Kelsey's retains HSBC Securities in connection with Cara proposal.
QSR Automations and Sweda Canada Partner to Provide a Flexible Kitchen Management Solution for Cara Operations; QSR's Reliable Kitchen Hardware...
HMSHost Corporation completes acquisition of Cara division.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters