For Immediate Release Toronto Stock Exchange: BPF.UN
BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES FIRST QUARTER 2016 RESULTS INCLUDING DISTRIBUTABLE CASH PER UNIT INCREASE OF 11.5%
Franchise sales from royalty pool restaurants increase 2.4% versus the same period one year ago
Highlights
- Franchise Sales1 from royalty pool restaurants of $198.0 million for the Period, an increase of $4.6 million or 2.4% versus the same period one year ago.
- Distributable Cash2 per Unit increased 11.5% for the Period to 32.0 cents versus 28.7 cents for the same period one year ago.
- Payout Ratio3 of 105.7% compared to 106.8% one year ago and a cash balance of $2.9 million at the end of the Period.
- Same Store Sales Growth of 0.6% for the Period.
- Six net new Boston Pizza restaurants opened in 2015, and were added to the Fund’s royalty pool on January 1, 2016.
- Trustees declare April 2016 distribution to unitholders of 11.5 cents per Unit.
VANCOUVER, BC, May 4, 2016 - Boston Pizza Royalties Income Fund (the “Fund”) and Boston Pizza International Inc. (“BPI”) reported financial results today for the first quarter period from January 1, 2016 to
March 31, 2016 (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 May 4, 2016 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 June 4, 2016 by dialling 1-855-669-9658 or 604-674-8052 and entering the access code: 00454 followed by the # sign.