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Boston Pizza Royalties Income Fund Announces Second Quarter 2017 Results Including Franchise Sales of $212.7 Million for the Period, an Increase of 0.9% Versus the Same Period One Year Ago

August 10, 2017

For Immediate Release                                                                           Toronto Stock Exchange: BPF.UN

BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES SECOND QUARTER 2017 RESULTS
INCLUDING
Franchise Sales of $212.7 million FOR THE PERIOD, an increase of 0.9% versus THE SAME PERIOD one year ago

Payout ratio of 99.1% for the Period despite continued challenging economic conditions in oil and gas regions

 

Highlights

  • System-Wide Gross Sales1 of $275.6 million for the Period and $536.8 million YTD, representing increases of 0.6% and 1.6%, respectively, versus the same periods one year ago. 
  • Franchise Sales2 from royalty pool restaurants of $212.7 million for the Period and $415.1 million YTD, representing increases of 0.9% and 1.5%, respectively, versus the same periods one year ago.
  • Same Store Sales Growth of negative 1.6% for the Period and negative 0.9% YTD.
  • Distributable Cash3 per Unit decreased 0.9% for the Period and decreased 1.6% YTD.
  • Payout Ratio4 of 99.1% for the Period, 104.6% YTD, and 100.2% on a trailing 12-month basis.  Cash balance at the end of the Period was $2.9 million.
  • Trustees declared July 2017 distribution to unitholders of 11.5 cents per Unit.

VANCOUVER, BC, August 10, 2017 - Boston Pizza Royalties Income Fund (the “Fund”) and Boston Pizza International Inc. (“BPI”) reported financial results today for the second quarter period from April 1, 2017 to June 30, 2017 (the “Period”) and January 1, 2017 to June 30, 2017 (“YTD”).  A copy of this press release, the condensed consolidated interim financial statements and related Management’s Discussion and Analysis (“MD&A”) of the Fund and BPI are available at www.sedar.com and www.bpincomefund.com.  The Fund will host a conference call to discuss the results on August 10, 2017 at 8:30 am Pacific Time (11:30 am Eastern Time).  The call can be accessed by dialling 1-800-319-4610 or 604-638-5340. A replay will be available until September 10, 2017 by dialling 1-855-669-9658 or 604‑674‑8052 and entering the access code: 1527 followed by the # sign.

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