MISSISSAUGA, ON, April 11 /CNW/ - Second Cup Royalty Income Fund has announced that its Board of Trustees has approved a cash distribution of $0.0910 per unit for the month of March, 2007 to be paid on April 30, 2007 to unitholders of record at the close of business on April 27, 2007.
In addition, the Fund is also pleased to announce that same cafe sales growth for cafes in the Royalty Pool was 6.1% for the period January 1, 2007 through March 31, 2007. This strong result follows a highly successful 2006 fourth quarter same cafe sales achievement of 7.8% and represents the ninth consecutive quarter of positive same cafe sales growth since the inception of the Fund in December 2004. System sales in the first quarter of 2007 were boosted by the redemption of Second Cup Cafe Card balances originally loaded during the holiday season, price increases implemented in 2006 and Second Cup's winter promotional program. "We are very pleased with the continuing strength of our same cafe sales growth and I would again like to thank our guests, franchisees and colleagues for their ongoing dedication and commitment to Second Cup", commented Bruce Elliot, President of The Second Cup Ltd.
The Fund is an open-ended trust established under the laws of the Province of Ontario. It holds, through an indirect wholly-owned limited partnership, the Canadian trade-marks and other intellectual property and associated rights used by The Second Cup Ltd. ("Second Cup") in connection with the operation of Second Cup cafes in Canada. For more information on the Second Cup Royalty Income Fund please visit www.secondcupincomefund.com.
Second Cup is Canada's largest specialty coffee cafe franchisor and second largest retailer of specialty coffee, as measured by number of cafes. For further information on Second Cup, visit www.secondcup.com.
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