The following is a summary of the Boston Pizza Royalties Income Fund (BPZZF) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Boston Pizza reported a royalty income of $9.5 million and distribution income of $3.1 million for Q2 2024.

• Franchise sales from Royalty Pool restaurants amounted to $236.8 million for Q2 2024 and $458.8 million year-to-date, an increase from the previous year.

• The Fund's net and comprehensive income was $7.5 million for the quarter, a decrease compared to $12.8 million the same quarter last year.

• Distributable cash for Q2 2024 stood at $7.5 million, compared to $7.9 million in Q2 2023.

Business Progress:

• Boston Pizza launched a new main menu in May 2024 with positive guest feedback.

• One new restaurant opened, and three underwent renovations in Q2 2024.

• Celebrated the brand's 60th anniversary with a marketing campaign enhancing the Boston Pizza Sports Bar experience.

• Plans for future growth include new menu items for the football season and continued restaurant development.

Opportunities:

• Boston Pizza will continue leveraging marketing campaigns like the 'Team Up for the Win' and summer patio campaign to enhance guest experience and drive sales.

• The introduction of new menu offerings for different seasons and special events aims to increase guest traffic.

Risks:

• High interest rates and rising input costs continue to pose challenges across the restaurant industry.

• BPI's management is focusing on strategic menu pricing and promotional activities to balance between guest traffic and financial performance.

More details: BOSTON PIZZA ROYALTIES INCOME FUND IR

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