Sportscene Group Inc. reported consolidated earnings results for the fourth quarter and year ended August 30, 2015. For the year, revenues were CAD 77.9 million against CAD 75.4 million last year. Earnings before financial expenses, amortization, share of net loss (income) of joint ventures and associates and income tax was CAD 1.9 million against CAD 7.9 million last year. Loss before income tax expenses was CAD 3.2 million against income before income tax expenses of CAD 4.1 million last year. Net loss and comprehensive loss attributable to shareholders was CAD 2.2 million or CAD 0.53 per basic and diluted share against net income and comprehensive income attributable to shareholders of CAD 3.1 million or CAD 0.73 per diluted share last year. Revenue growth is due primarily to the revenues generated by the organization of sporting events and construction activities. Consolidated adjusted EBITDA amounted to CAD 3.4 million, compared with CAD 7.8 million the previous year. Besides lower average same-Cage sales, this decrease is partly attributable to the costs associated with the major banner repositioning operation, particularly in regard to the higher quality of ingredients, new culinary processes and employee training. The company views the temporary decline in its operating results as an investment that will enable the La Cage network to strengthen its competitive advantages and thereby access to higher growth and profitability levels over the medium and long term.

For the quarter, Sportscene recorded net loss of CAD 2.3 million or CAD 0.50 per basic and diluted share, due largely to the recognition of losses totaling CAD 1.7 million in the item Other losses (gains).