BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES RECORD 2006 RESULTS AND ELEVENTH DISTRIBUTION INCREASE
Royalty income rises 23% driven by same store sales growth and new royalty pool restaurants
VANCOUVER, BC, (February 7, 2007) - Boston Pizza Royalties Income Fund (the "Fund") reported today financial results for the period of January 1, 2006 to December 31, 2006 (the "Year"). Same Store Sales Growth ("SSSG"), the key metric for revenue growth of the Fund, was 8.4% for the Year. Overall growth in franchise sales of royalty pooled restaurants, a combination of new restaurants added to the royalty pool and SSSG, was 23.3%. In 2006, Boston Pizza International Inc. ("BPI") opened 41 new Boston Pizza restaurants across Canada and closed one full-service restaurant. With the addition of these 40 net new restaurants, royalties are now payable to the Fund from 266 Boston Pizza restaurants. Also during the Period, one restaurant was relocated to an improved site while 25 locations were renovated to the latest design standards.
"2006 was a record-setting year for our organization," said Mike Cordoba, Chief Executive Officer of Boston Pizza. "We opened more restaurants and served more customers than any other single year in our operating history. We were also very pleased to deliver another year of outstanding same store sales growth which enabled us to deliver three more distribution increases to our Unitholders during the Year."
FOR FURTHER INFORMATION PLEASE CONTACT:
Boston Pizza Royalties Income Fund
Jordan Holm - Vice President of Investor Relations
Tel: 604-303-6083
investorrelations(at)bostonpizza.com
www.bpincomefund.com
® Boston Pizza Royalties Limited Partnership. All Boston Pizza registered Canadian trade-marks and unregistered Canadian trade-marks containing the words "Boston", "BP", and/or "Pizza" are trade-marks owned by the Boston Pizza Royalties Limited Partnership and licensed by the Boston Pizza Royalties Limited Partnership to Boston Pizza International Inc.
© Boston Pizza International Inc. 2007