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VANCOUVER — Restaurant operator A&W Revenue Royalties Income Fund reported a second-quarter profit of $2.5-million, up from $2.3-million last year on strong same-store sales growth.
The operator of A&W burger stores said its earnings amounted to 30.2 cents per share, up from 27.9 cents in the same quarter last year.
“We are pleased with the same store sales growth of 9.1 per cent, especially given the continuing uncertainty in the economy and the food service industry in Canada,” said chief executive officer Paul Hollands.
Royalty income increased by 12.5 per cent over the same quarter last year and distributable cash increased by 13 per cent to $4,747,000 for the quarter, both driven by the strong same store sales growth.
The number of restaurants in the pool rose to 676 during 2008 from 660 the year before.
Units of the fund were unchanged at $13.10 on the Toronto Stock Exchange.
