Revenue for Boston Pizza Royalties Income Fund (TSX:BPF.UN) rose 20.4% in 2007 on the strength of same-store sales growth.
Sales increased to $755.5 million for the year ending December 31, 2007, compared with $646.2 million in 2006. A 5.7% increase in same store sales growth was attributed as the main reason for the strong growth last year.
Royalty income for the fund subsequently rose to $23.3 million from $19.4 million a year earlier from 266 restaurants in the royalty pool.
The company plans continued expansion in Eastern Canada and Quebec with between 30 and 35 new restaurants planned to open in 2008. The fund is also planning between 25 and 30 restaurant renovations in 2008.
Boston Pizza's unit price range during the past week: between $13.07 and $13.24; 52-week high: $15.67; 52-week low: $12.23.