Meritage Hospitality swings to 3Q profit

GRAND RAPIDS Mich. Meritage Hospitality Group Inc., a Wendy’s and O’Charley’s franchisee, swung to a profit in its latest quarter from a year-ago loss, driven by a double-digit jump in sales from the purchase of 20 Wendy’s restaurants.

For the quarter ended Aug. 30, Meritage’s net income totaled $502,195, compared with a net loss of $3,654 in the same quarter a year ago.

Latest-quarter revenue rose 33.8 percent to $20.4 million, and reflected $5.6

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