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CARA OPERATIONS LIMITED

CARA OPERATIONS LIMITED
    TORONTO, Oct. 2 /CNW/ - On behalf of Cara Operations Limited, the Chairman & Chief Executive Officer, M. Bernard Syron and the President & Chief Operating Officer, Gunter B. Otto, report Cara's results for the second quarter ended September 13, 1992 as follows:
                        TWELVE WEEKS           TWENTY-FOUR WEEKS
                    Sept. 13,   Sept. 15,    Sept. 13,    Sept. 15
                      1992        1991         1992         1991
                 ------------ ------------ ------------ ------------
    System Sales $271,278,000 $278,464,000 $543,418,000 $548,329,000
    Net Profit      7,514,000    7,509,000   12,305,000   11,856,000
    Earnings Per
     Share          6.4 cents    6.4 cents   10.5 cents   10.1 cents
    System sales for the quarter have decreased by 2.6 per cent over the same period last year and less than 1 per cent on a year-to-date basis.
    Net profit is comparable to the same period last year for the quarter and has increased by 3.8 per cent on a year-to-date basis. Interest cost reductions and a steady performance from most divisions have offset the traditionally slow second quarter in our office products and institutional catering segments.
    The Corporation paid a dividend of 4 cents per share on June 30, 1992 to Common and Class A shareholders of record on June 16, 1992.
                     CARA OPERATIONS LIMITED
                              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 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 centres in many major cities in Canada.
    Beaver Foods Limited and Les services alimentaires CVC Inc. provide 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.
    For further information: Michael Nahirny, Senior Vice President, Finance & Administration & Chief Financial Officer (416) 962-4571
    (CAO.)
    -0-             10/02/92


CO: CARA OPERATIONS LIMITED IN: LEI SU: ERN ST: -- c0343 -- X140 10/02/92
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Publication:PR Newswire
Date:Oct 2, 1992
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