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CARA OPERATIONS LIMITED REPORTS RESULTS

 TORONTO, May 13 /PRNewswire/ -- Cara Operations Limited's Chairman & Chief Executive Officer, M. Bernard Syron and the President & Chief Operating Officer, Gunter B. Otto, are pleased to announce Cara's continued strong results for the quarter and the year ended March 28, 1993 as follows:
 4th Quarter Fifty-Two Weeks
 Mar. 28, Mar. 29, Mar. 28, Mar. 29,
 1993 1992 1993 1992
 System sales $366,418,000 $362,971,000 $1,191,451,000 $1,205,697,000
 Gross
 revenue $247,682,000 $234,022,000 $781,441,000 $763,937,000
 Net profit $9,706,000 $10,677,000 $30,492,000 $30,835,000
 Earnings
 Per Share 8.3 cents 9.1 cents 26.0 cents 26.3 cents
 During the fourth quarter, overall sales increased over the same quarter last year except for the Airport Services Division.
 Strong cash flow enabled the corporation to repay $21.0 million of debt during the quarter for a total of $52.0 million for the year - a 37 percent reduction!
 The corporation will pay a dividend of 4 cents per share on June 28, 1993 to Common and Class A shareholders of record on June 14, 1993.
 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- 5/13/93
 /CONTACT: Michael Nahirny, senior vice president, finance & administration & chief financial officer of Cara Operations Limited, 416-969-2500/


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

TM -- NY098 -- 8356 05/13/93 17:47 EDT
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Publication:PR Newswire
Date:May 13, 1993
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