For Immediate Release Toronto Stock Exchange: BPF.UN
BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES THIRD QUARTER 2015 RESULTS
INCLUDING DISTRIBUTABLE CASH PER UNIT INCREASE OF 9.9% AND PAYOUT RATIO OF 88.3%
Franchise Sales of $212.4 million for the third quarter 2015 increased by 5.5% versus one year ago
Highlights
- Franchise Sales1 from royalty pool restaurants of $212.4 million for the Period and $608.6 million YTD, representing increases of 5.5% and 4.2%, respectively, versus the same periods one year ago.
- Distributable Cash2 per Unit increased 9.9% for the Period and 10.0% YTD.
- Payout Ratio3 of 88.3% for the Period and 94.5% YTD.
- Same Store Sales Growth of 2.7% for the Period and 1.6% YTD.
- Cash balance at the end of the Period was $2.6 million.
- Trustees declared October 2015 distribution to unitholders of 10.83 cents per Unit.
VANCOUVER, BC, November 10, 2015 - Boston Pizza Royalties Income Fund (the “Fund”) and Boston Pizza International Inc. (“BPI”) reported financial results today for the third quarter period from July 1, 2015 to September 30, 2015 (the “Period”) and the year-to-date period from January 1, 2015 to September 30, 2015 (“YTD”). 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 November 10, 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 December 10, 2015 by dialling 1-855-669-9658 or 604-674-8052 and entering the pin code: 4452 followed by the # sign.