Pizza Pizza Royalty Income Fund and Pizza Pizza Limited today announced results for the second quarter ended June 30, 2011.
Second Quarter Highlights include:
- Same-store sales increased 3 percent.
- Earnings per unit before income taxes increased 6.2 percent.
- Payout ratio was 96 percent and
- Working capital increased $161,000
"We're pleased with the combined performance of our two great brands during the second quarter and year-to-date," said Paul Goddard, CEO of Pizza Pizza Limited. "Although we found consumer buying patterns sensitive to gasoline price increases at the pump and to grocery item increases, our value-driven promotions and evolving menu are resonating in the quick service marketplace."
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