July 16th, 2024

A&W Revenue Royalties Income Fund reports Q3 profit up from year ago

By The Canadian Press on October 18, 2023.

VANCOUVER – A&W Revenue Royalties Income Fund says it earned $10.6 million in net income in its third quarter up from $9.6 million a year earlier.

The fast food income fund says the increase for the quarter ended Sept. 10 came as royalty income rose to $13.7 million compared with $13.2 million in the same quarter last year.

The fund, which earns royalties on the gross sales of restaurants in a royalty pool, says gross sales reported by A&W restaurants in the pool totalled $456.8 million, up from $440.0 million a year earlier.

The number of restaurants in the pool rose to 1,037 compared with 1,015 in the same quarter last year.

Meanwhile, the royalty pool same-store sales growth was 1.1 per cent for the quarter.

The fund’s payout ratio for the quarter was 81.3 per cent compared with 80.3 per cent for the same quarter in 2022.

This report by The Canadian Press was first published Oct. 18, 2023.

Companies in this story: (TSX:AW.UN)

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