Cara postsrecord profit despite restaurant woes

Article Abstract:

Cara Operations Ltd., a restaurant and food service company based in Toronto, Ontario, posted record sales and earnings for the first quarter of 1998 and also announced that its airline catering unit is nearing an alliance with a global player. Although its restaurant business that includes such chains as Harvey's and Swiss Chalet was lackluster in the quarter, the company reported a profit of C$7 million or 7 cents a share during the period. The company partly attributed the decline in profits in its restaurant unit to an unseasonably warm spring that encouraged people to barbecue in their backyards instead of eat out.

Comment:

Posts record sales & earnings for 1998 1st quarter & also said that its airline catering is nearing alliance w/ global player

Sales, profits & dividends

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Cara chairman collected $2.8-million in fiscal '98

Article Abstract:

Cara Operations Ltd. chairman Bernard Syron collected around C$2.8 in compensation in fiscal year 1998 ended March 29, 1998 after stepping down as CEO in October 1997. The restaurant and institutional catering operation gave Syron C$514,423 salary and C$260,000 bonus, as well as $190,445 in other compensation. However, majority of the amount came from exercising one million share purchase warrants in November 1997. Cara said that Syron purchased one million non-voting shares at C$5.08 each from the warrants, then sold them at an average of C$7 each.

Comment:

Chairman Bernard Syron collected around C$2.8 in compensation in FY98 ended 3/29/98 after stepping down as CEO in October 1997

Canada, Management development

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Phelan son to sell indirect stake in Cara operations

Article Abstract:

Cara Operations Ltd.'s stakeholder, Paul D. Phelan, is considering plans to sell his 34% interest in the food services firm. Phelan's stake in the company is expected to be acquired by 373027 Ontario Ltd., which already controls 64% of the firm. The move is part of the efforts of Phelan to convert this particular asset to cash in light of existing market conditions. Phelan, however, maintains that the divestiture is in no way a manifestation of a lack of confidence over the company's financial standing.

Comment:

It's stakeholder, Paul Phelan, considering plans to sell his 34% interest in the food services firm

Asset sales & divestitures, Stockholder data

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