For Immediate Release Toronto Stock Exchange: BPF.UN
BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES RECORDS FOR
FRANCHISE SALES OF $193.8 MILLION FOR THE SECOND QUARTER AND $380.2 MILLION
YTD
Record top line results driven by strong SSSG of 3.6% for the second
quarter and 3.4% YTD
Highlights
- Highest
ever quarterly Franchise Sales from
royalty pool restaurants of $193.8 million.
- Strong
same store sales growth of 3.6% for the Period and 3.4% YTD.
- Distributable
Cash per Unit increases
by 7.5% for the Period and 4.2% YTD versus the same periods, respectively,
in 2012.
- Trustees
declare July distribution to unitholders of 10.2 cents per Unit.
- During
the Period, Boston Pizza opened its 350th location in Canada.
VANCOUVER,
BC, August 8, 2013 - 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, 2013 to June 30, 2013
(the “Period”) and for the year-to-date
period from January 1, 2013 to June 30, 2013 (“YTD”). A copy of this press release, the consolidated interim financial
statements for the Period 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 August 8, 2013 at 8:30 a.m. Pacific Time (11:30 a.m. Eastern Time).
The call can be accessed by dialling 1-800-319-4610 or 604-638-5340. A replay will be available until September 7, 2013 by dialling 1-800-319-6413
or 604-638-9010 and entering the pin code: 4452 followed by the # sign.
Same store sales growth (“SSSG”), a key driver of distribution
growth for unitholders of the Fund, was 3.6% for the Period and 3.4% YTD compared
to 2.9% and 5.1%, respectively, for the same periods in 2012. Franchise Sales1,
the basis upon which royalties are paid by BPI to the Fund, exclude revenue from the sale
of liquor, beer, wine and tobacco and approved national promotions and
discounts. On a Franchise Sales1 basis, SSSG was 4.1% for the Period
and 3.8% YTD compared to 3.1% and 4.9%, respectively, for the same periods in
2012. The positive SSSG in the Period and YTD were principally due to higher
take-out and delivery sales resulting from continued promotion of Boston
Pizza’s online ordering system and menu re-pricing. The positive SSSG results
YTD were achieved in spite of several challenges including the strong SSSG
figure posted in the same period one year ago, the one less day in the period
compared to 2012 due to the leap year in 2012 and the poor weather experienced
in many parts of Canada YTD. Franchise Sales of restaurants in the
royalty pool were all-time records of $193.8 million for the Period and $380.2
million YTD compared to $183.6 million and $360.2 million YTD in the same
periods, respectively, in 2012. The increases in Franchise Sales for the Period and YTD are attributed to the positive SSSG
and the addition of five net new restaurants to the Fund’s royalty pool on January 1, 2013.
“We
are very pleased with the record sales results achieved by Boston Pizza for the
second quarter and year-to-date periods in 2013,” said Mark Pacinda, President
and CEO of BPI. “Several key initiatives in the second quarter contributed to
our continued success including the launch of the revolutionary Pizzaburger and
new rib menu items, two more humorous and effective national advertising
campaigns and the opening of our 350th restaurant location in Canada which took
place on May 6th in Devon, Alberta.”
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. 2013