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Boston Pizza Royalties Income Fund Announces Records for Franchise Sales of $193.8 Million for the Second Quarter and $380.2 Million YTD

August 08, 2013

For Immediate Release                                                                           Toronto Stock Exchange: BPF.UN



Record top line results driven by strong SSSG of 3.6% for the second quarter and 3.4% YTD


  • 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 and 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.”


Boston Pizza Royalties Income Fund
Jordan Holm - Vice President of Investor Relations
Tel: 604-303-6083

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