For Immediate Release The Toronto Stock Exchange: BPF.UN
BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES SECOND QUARTER 2015 RESULTS
INCLUDING DISTRIBUTABLE CASH PER UNIT INCREASE OF 10.9% AND PAYOUT RATIO OF 93.4%
Franchise Sales of $396.3 million YTD increased by 3.5% versus one year ago
Highlights
- Franchise Sales1 from royalty pool restaurants of $202.9 million for the Period and $396.3 million YTD, representing increases of 3.2% and 3.5%, respectively, versus the same periods one year ago.
- Distributable Cash2 per Unit increased 10.9% for the Period and 9.2% YTD.
- Payout Ratio3 of 93.4% for the Period and 97.0% on a trailing 12-month basis.
- Same Store Sales Growth of 0.1% for the Period and 1.1% YTD.
- On May 6, 2015, the Fund completed an acquisition of additional interest in Franchise Sales of Boston Pizza restaurants in Canada, which subsequently resulted in a 6.2% increase to monthly distributions to unitholders beginning with the April 2015 distribution.
- Trustees declared July 2015 distribution to unitholders of 10.83 cents per Unit.
VANCOUVER, BC, August 12, 2015 - 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, 2015 to
June 30, 2015 (the “Period”). 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 12, 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 September 11, 2015 by dialling 1-855-669-9658 or 604-674-8052 and entering the pin code: 4452 followed by the # sign.