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Microcap & Penny Stocks : Afton Foods ( AFF ) -Franchise Consolidator
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To: Dave V who wrote (53)4/4/2000 12:21:00 AM
From: David Michaud   of 60
 
Afton Food year-end Basic earnings per share $0.263 up from $0.16

The outlook for 2000 is very positive. The acquisition of Robin's Foods Inc., with its 244 locations, will substantially increase the system sales and revenue and is expected to have an accretive effect on earnings per share. With this acquisition, Afton will have reached its initial goal of 500 locations in the year 2000.

Target upcoming yearly EPS of $0.40 - $0.45

Afton Food Group has completed the acquisition of 100 per cent of Robin's Foods Inc. as previously disclosed in the March 1, 2000, press release. The company now operates in excess of 500 corporate and franchised locations coast to coast in Canada, with additional locations in the United States and Saudi Arabia. This acquisition makes Afton one of the 10 largest quick service restaurant chains in Canada. The Afton brands, which include 241 Pizza, Robin's, Ruffage, Donut Delite Cafe and Mrs. Powell's Bakery Eatery, will generate approximately $200-million in system sales and in excess of $30-million in revenue.
The addition of the Robin's brand is expected to position Afton for significant growth through twinning of the 241 Pizza brand with existing and new Robin's locations.
The company continues to seek acquisition candidates with brand presence and market share which will enhance corporate earnings and shareholder value.
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