MTY Food Group reports 10% Q2 profit decline to $27.3M due to impairment charges and slight revenue drop.

MTY Food Group, a restaurant franchisor and operator, reported a 10% decline in Q2 profit to $27.3M ($1.13/diluted share) vs the previous year, due to impairment charges on property, plant, and equipment, and intangible assets. Revenue slightly dropped to $303.7M from $305.2M in 2021. Despite the decrease, the company continues to operate and franchise over 90 restaurant brands.

July 11, 2024
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