Printer Friendly

CARA OPERATIONS LIMITED FISCAL THIRD QUARTER RESULTS

 CARA OPERATIONS LIMITED FISCAL THIRD QUARTER RESULTS
 TORONTO, Jan. 16 /PRNewswire/ -- On behalf of Cara Operations Limited, the Chairman & Chief Executive Officer, M. Bernard Syron and the President & Chief Operating Officer, Gunter B. Otto, today announced Cara's results for the third fiscal quarter ended Dec. 8, 1991 as follows:
 TWELVE WEEKS THIRTY-SIX WEEKS
 Dec. 8, Dec. 9, Dec. 8, Dec. 9,
 1991 1990 1991 1990
 System Sales $294,397,000 $237,143,000 $842,726,000 $661,379,000
 Net Profit $ 8,302,000 $ 8,214,000 $ 20,158,000 $ 25,252,000
 Earnings Per
 Share 7.1c 7.2c 17.2c 22.1c
 Shares
 Outstanding 117,431,727 114,431,727 117,431,727 114,431,727
 System sales for the quarter increased by 24.1 percent due to the acquisition of Arvak Limited during the fourth quarter of last fiscal year.
 Profits for the third quarter are 1.1 percent above the comparable quarter for last year.
 In view of the current economic conditions adversely affecting the company's businesses, in particular the retail and travel segments, the results reflect steady performance and improvement over the first and second quarters of this year.
 The corporation paid a dividend of 4c per share on Dec. 24, 1991 to common and class A shareholders of record on Dec. 17, 1991.
 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.
 In the hotel industry, Cara operates the Days Inn Hotel at Lester B. Pearson International Airport in Toronto, and is the master franchisor for the Days Inns chain in 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 newsstands 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- 1/16/92
 /CONTACT: Michael Nahirny, senior vice president-finance & administration & chief financial officer of Cara, 416-962-4571/ CO: Cara Operations Limited ST: Ontario IN: FOD SU: ERN


JT -- NY094 -- 0736 01/16/92 17:07 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 16, 1992
Words:506
Previous Article:FIRSTFED MICHIGAN EARNS $34 MILLION IN 1991
Next Article:WESTINGHOUSE HANFORD EMPLOYEES HEAR CLIMATE SURVEY RESULTS
Topics:


Related Articles
CARA OPERATIONS ANNOUNCES YEAR-END RESULTS
CARA OPERATIONS REPORTS RESULTS
CARA OPERATIONS LIMITED
PHELAN ANNOUNCES DISTRIBUTION OF CARA OPERATIONS SHARES
CARA OPERATIONS LIMITED ANNOUNCES THIRD QUARTER RESULTS
CARA OPERATIONS LIMITED REPORTS RESULTS
CARA OPERATIONS LIMITED ANNOUNCES 1ST QUARTER RESULTS
CARA OPERATIONS LIMITED REPORTS RESULTS
Radica Games Limited Reports Profit for the Third Quarter Ended July 31, 1996
Plexus Corp. Reports Record Third Quarter Results.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters