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Pizza Pizza posts positive Q1, wins Canadian franchise award

Canada-based Pizza Pizza Royalty Corp, owners of Pizza Pizza and Pizza 73, released positive financial results for Q1.

May 11, 2015

 Canada-based Pizza Pizza Royalty Corp, owners of Pizza Pizza and Pizza 73, have released positive financial results for Q1 ended March 31, 2015.

The company's royalty pool sales increased 3.6 percent from system sales of its 730 restaurants to $128.9 million, compared to $124.4 million in the year prior, according to a company press release. Same-store sales growth also increased by 2.5 percent, up from a 1.6 percent increase in 2014, the key driver of yield growth for shareholders of the company.

"Both brands performed well during the quarter with Pizza 73 reporting strong sales in Alberta over a very strong quarter last year. We're especially pleased with the continued momentum at the Pizza Pizza brand, which contributes over 80 percent of total sales, where consumer traffic has grown significantly in the Ontario and Quebec markets compared to the first quarter last year," Paul Goddard, CEO, Pizza Pizza Limited, said in the release.

In a separate announcement, the company reported that it received the 2015 Hall of Fame Award from the Canadian Franchise Association for "outstanding performance of its franchisees."

"The CFA Recognition Awards are about excellence in the franchise community," said President and Chief Executive Officer for CFA Lorraine McLachlan. "Franchising is a significant and growing business sector in Canada making positive contributions to the Canadian economy and the community-at-large. Our CFA Recognition Awards celebrate these contributions. We congratulate Pizza Pizza on this significant achievement."