THE SKOR FOOD GROUP Q2-2010 EARNINGS INCREASE 49.3%

TORONTO, April 18 /CNW/ -- 
Cash Take-Over Bid from Colabor Group Inc. of $1.33 per Share Expires
 May 9, 2011


TORONTO, April 18 /CNW/ - The Skor Food Group Inc. (TSXV: SKF),
 ("SKOR"), an integrated food service company, announced its second
 quarter financial results for the period ended February 28, 2011.


Consolidated results for the second quarter and the year to date:



                     Six months ended Feb. 28        Three months ended Feb. 28

                       2011             2010             2011             2010

Revenue          $ 64,709,276     $ 67,212,706     $ 30,008,159     $ 31,413,078

EBITDA*                                                            
(excluding
discontinued
earnings)        $  2,171,535     $  1,793,061     $    915,495     $    743,559

Net Earnings                                                       
(loss)           $  1,094,487     $    744,145     $    384,595     $    257,648

EPS (basic)      $       0.04     $       0.03     $       0.02     $       0.01

Shares                                                             
(basic)            25,938,063       25,855,670       26,047,134       25,855,670





*EBITDA is a non-GAAP measure - earnings before interest, tax,
 depreciation and amortization.





"While year to date revenue is tracking marginally behind last year, the
 product mix combined with a continued focus on cost containment has
 enabled SKOR to improve its year to date net earnings by more than
 47%," said Vince Capobianco CEO.


SKOR's Board of Directors has  unanimously determined that the cash
 take-over bid of $1.33 per share announced by Colabor Group Inc. on
 March 22, 2011 is fair, from a financial point of view, to the
 shareholders and is in the best interests of Skor and unanimously
 recommends that shareholders accept the Colabor offer and tender their
 common shares in accordance with the instructions contained in the
 take-over bid circular of Colabor dated March 30, 2011 and filed on www.sedar.com.   


SKOR is a vertically integrated, full service, mid sized, wholesale food
 supplier to the food service and retail industries. SKOR services a
 wide range of multi location food service establishments, quick service
 restaurant chains, day care facilities, government institutions,
 independent food service operators, independent grocery stores as well
 as vending operators and convenience stores in Ontario.


The TSX Venture Exchange has not reviewed and does not accept
 responsibility for the adequacy or accuracy of this release.


 


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p Vince Capobiancobr/ President and CEObr/ 905-660-1212 ext 234br/ a href="http://[e-mail]"vincec@sk/aa href="mailto:[e-mail]"orfoodgroup.com/a /p 

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