Business
Pizza Pizza Royalty Income Fund announces 2005 results
Pizza Pizza Royalty Income Fund announces 2005 results.
About this update from Pizza Pizza Royalty Corp.
[{"type":"text","content":"\n\n\n\n\nTORONTO, March 15 /CNW/ - Today, Pizza Pizza Royalty Income Fund (the\n\"Fund\") reported financial results for the period of operations from July 6,\n2005 to December 31, 2005 (the \"Period\"), which is the Fund's initial year. As\nthe Fund's initial public offering date was July 6, 2005, there are no \nyear-over-year comparables for the period.\nThe Fund's earnings were $7.9 million for the Period or $0.438 per unit\nand the Fund declared distributions of $7.0 million or $0.392 per unit for the\nPeriod.\nAs of December 31, 2005, working capital of the Fund combined with\nworking capital of the Partnership totalled $961 thousand and has been\naccumulated as a reserve to cover seasonality and any unusual administrative\nexpenditures.\nSame Store Sales Growth (\"SSSG\") was 6.0% for the Period when compared to\nthe same period in 2004. The growth for the Period is consistent with the 5.7%\nSSSG for the 2005 fiscal year ended October 2, 2005, and 5.9% SSSG for the\n2004 fiscal year ended September 26, 2004.\nAs a result of the SSSG during the reporting Period, the Fund increased\nits November 2005 distribution by 2%, from $0.0667 to $0.0681 per unit.\nSubsequent to the year end, the Fund increased its February 2006 distribution\nby 2%, from $0.0681 to $0.0695 per unit.\n\nFINANCIAL HIGHLIGHTS\n\nEquity income earned by the Fund through its, effective 80% interest in\nthe Partnership at December 31, 2005, and interest income from the PPL Loan\nfor the period from July 6, 2005 to December 31, 2005, have been derived as\nshown in the table below:\n\n>\n%SEDAR: 00022262EF\n\n\n","length":12255,"tagName":"div"}]