TORONTO — Shares of MTY Food Group Inc. (MTY-T) drew attention Friday after the restaurant operator posted stronger-than-expected fourth-quarter results ended Nov. 30. Revenue hit $305.4 million, up from $284.5 million a year earlier and surpassing S&P Capital IQ estimates of $282.3 million, according to the company.

Adjusted EBITDA rose to $87.7 million from $59.4 million in the prior year. Net income flipped to $32.1 million, or $1.40 per share, beating forecasts of 83 cents per share. That compared with a $55.3 million loss, or $2.34 per share, a year ago. MTY attributed the swing mainly to lower impairment losses.

Same-store sales dipped 1.7 percent year-over-year. Canada held steady, while the U.S. fell 2.8 percent and international locations dropped 3.2 percent. CEO Eric Lefebvre highlighted 19 net new store openings in the quarter. “Our franchisees are handling these headwinds effectively with modest growth in Canada and slight pressure in the U.S.,” he said in a release. The company’s network stood at 7,080 locations by quarter-end, with 6,831 franchised or under operator agreements and 249 corporate-owned. The U.S. accounted for 57 percent, Canada 35 percent and international 8 percent.

The broader S&P/TSX Small Cap Index (TXTW-I) has outperformed, gaining 64 percent over 52 weeks versus 16 percent for the U.S. Russell 2000, which peaked at 2,735.10 on Jan. 22.

Organigram Holdings Inc. (OGI-T) moved to expand in Europe with a deal to buy the remaining stake in Germany’s Sanity Group GmbH. The upfront payment totals €113.4 million in cash and shares, plus a potential €113.8 million earnout based on performance. Shares for the upfront portion price at C$3 each, a 71 percent premium to Tuesday’s C$1.75 close. Earnout shares use a 20-day volume-weighted average price before settlement, with a C$3 floor and C$4 cap.

Organigram plans to fund the purchase with cash, a new credit facility and a C$65.2 million equity investment from British American Tobacco plc (BAT). CEO James Yamanaka called it a “key step” into Europe’s cannabis market. Canaccord Genuity analyst Kenric Tyghe raised his target to C$4 from C$3 while keeping a buy rating. He noted Sanity’s status as a top operator in Germany, where the medical cannabis market hit €4.5 billion in sales forecast through 2028 per Euromonitor. Organigram targets 10-12 percent EBITDA margins post-deal.

Other small caps saw mixed action. Northern Dynasty Minerals Ltd. (NDM-T) plunged 38 percent Wednesday after the U.S. Department of Justice filed a brief defending an EPA veto on its Pebble mine in Alaska. CEO Ron Thiessen criticized the move despite administration support for mining. “We are reviewing their filing with our legal team,” he said in a release.

Acadian Timber Corp. (ADN-T) named Malcolm Cockwell interim president and CEO effective immediately. Cockwell, a professional forester and chair since August 2019, replaces Adam Sheparski, who left for other opportunities.

Kits Eyecare Ltd. (KITS-T) issued upbeat first-quarter guidance, projecting revenue of $58 million to $60 million, up 25-29 percent organically. Glasses revenue should top $10 million, more than 50 percent growth. Adjusted EBITDA margins are seen at 4-6 percent of revenue. Canaccord Genuity’s Luke Hannan stuck with his buy rating and C$23 target, noting the figures beat his $54.9 million estimate.

Sofina Inc., maker of Cashmere and Scotties brands, reported fourth-quarter revenue of $560.1 million, up from $539.6 million but short of $574.5 million expectations per S&P Capital IQ. Adjusted EBITDA climbed to $84.2 million from $66.8 million, missing $85.5 million forecasts. Net income turned positive at $23.4 million, or 26 cents per share, from a $13.7 million loss. National Bank Financial’s Ahmed Abdullah held a sector perform rating but lifted his target to $12 from $11.