For Immediate Release The Toronto Stock Exchange: BPF.UN
BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES FIRST QUARTER 2015 RESULTS AND A 6.2% INCREASE TO CASH DISTRIBUTIONS TO UNITHOLDERS
Distributable Cash per Unit increases 5.5% in Q1, 2015
Highlights
- System-Wide Gross Sales1 for the Period of $248.7 million, an increase of $10.7 million versus the same period one year ago.
- Franchise Sales2 from royalty pool restaurants for the Period of $193.4 million, an increase of $7.0 million or 3.8% versus the same period one year ago, and same store sales growth of 2.1% for the Period.
- Distributable Cash3 per Unit increases 5.5% for the Period.
- Eight net new Boston Pizza restaurants opened in 2014 and were added to the Fund’s royalty pool on January 1, 2015.
- Trustees declare April 2015 distribution to unitholders of 10.83 cents per Unit, an increase of 0.63 cents or 6.2%, marking the 17th increase in the rate of distributions to unitholders since the inception of the Fund in July, 2002.
VANCOUVER, BC, May 8, 2015 - Boston Pizza Royalties Income Fund (the “Fund”) and Boston Pizza International Inc. (“BPI”) reported financial results today for the first quarter period from January 1, 2015 to March 31, 2015 (the “Period”). A copy of this press release, the condensed consolidated interim financial statements and related Management’s Discussion and Analysis 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 May 8, 2015 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 June 8, 2015 by dialling 1-855-669-9658 or 604-674-8052 and entering the pin code: 4452 followed by the # sign.