Boston Pizza: reports higher profit

Vancouver / CA. (bpi) Boston Pizza Royalties Income Fund and Boston Pizza International Inc. (BPI) each reported financial results for the year 2007 and the Q4/2007 results from October 01 to December 31. Same Store Sales Growth (SSSG), the key metric for revenue growth of the Fund, was 3,3 percent for the Q4/2007 and 5,7 percent for the year. Overall growth in franchise sales of restaurants in the royalty pool was 20,4 percent for 2007. This was achieved through a combination of the addition of new restaurants to the royalty pool and SSSG. BPI opened 34 new Boston Pizza restaurants during the year bringing the current total number of Boston Pizza restaurants open in Canada to 300, all of which are included in the royalty pool. Also during the Q4/2007, four restaurants were renovated. A total of 19 Boston Pizza restaurants completed major renovations in 2007. «Boston Pizza continued to perform very well in 2007», says CEO Mike Cordoba in a statement. «We achieved a remarkable milestone by opening our 300th location during the fourth quarter. This further strengthens our position as Canada´s number one casual dining brand. We also increased same store sales by 5,7 percent in 2007 compared to 2006. We increased monthly distributions three times in 2007 and, since the Fund´s initial public offering in July 2002, monthly distributions have been increased a total of thirteen times for a total increase of 38 percent».
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