Richmond-headquartered Boston Pizza Royalties Income Fund (TSX:BPF.UN) announced quarterly results August 8 that included record sales from franchisees who have restaurants in the fund's royalty pool.
Those franchisees combined to generate $193 million in sales in the three months that ended June 30.
The national restaurant chain's systemwide gross quarterly sales were $250.4 million, including restaurants that are operated by Boston Pizza International Inc. but are not in the income fund's royalty pool.
That's 5.2% more than the $238 million that Boston Pizza restaurants generated in the same three months in 2012.
The fund's revenue in the quarter was $8.2 million because it is entitled to 4% of royalty pool sales and it also had some interest revenue. That was also up 5.2% compared with the same quarter in 2012.
The fund's quarterly profit dropped 35% to $4.02 million.
"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 Boston Pizza International CEO Mark Pacinda.
"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."
