For Immediate Release Toronto Stock Exchange: BPF.UN
BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES SECOND QUARTER 2016 RESULTS
INCLUDING FRANCHISE SALES INCREASE OF 3.9% AND SSSG OF 2.1%
Payout Ratio of 98.3% for the Period
Highlights
- Franchise Sales1 from royalty pool restaurants of $210.9 million for the Period and $408.9 million YTD, representing increases of 3.9% and 3.2%, respectively, versus the same periods one year ago.
- Distributable Cash2 per Unit increased 1.2% for the Period and 5.0% YTD.
- Payout Ratio3 of 98.3% for the Period, 101.8% YTD and 95.9% on a trailing 12-month basis. Cash balance at the end of the Period was $3.0 million.
- Same Store Sales Growth of 2.1% for the Period and 1.4% YTD.
- Trustees declared July 2016 distribution to unitholders of 11.5 cents per Unit.
VANCOUVER, BC, August 10, 2016 - 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, 2016 to
June 30, 2016 (the “Period”) and January 1, 2016 to June 30, 2016 (“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 August 10, 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 September 10, 2016 by dialling 1-855-669-9658 or 604-674-8052 and entering the access code: 00702 followed by the # sign.