A&W Revenue Royalties Income Fund Reports Earnings Results for the Second Quarter and Six Months Ended June 18, 2023
July 31, 2023 at 03:22 pm EDT
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A&W Revenue Royalties Income Fund reported earnings results for the second quarter and six months ended June 18, 2023. For the second quarter, the company reported net income was CAD 8.97 million compared to CAD 8.39 million a year ago. Basic earnings per share from continuing operations was CAD 0.557 compared to CAD 0.521 a year ago.
For the six months, net income was CAD 14.99 million compared to CAD 16.32 million a year ago. Basic earnings per share from continuing operations was CAD 0.931 compared to CAD 1.014 a year ago.
A&W Revenue Royalties Income Fund (the Fund) is a Canada-based company. The Fund is a limited purpose trust established to invest in A&W Trade Marks Inc. (Trade Marks), which through its interest in the A&W Trade Marks Limited Partnership (Partnership), owns the A&W trademarks used in the A&W quick service restaurant business in Canada. In return for licensing, A&W Food Services of Canada Inc. (A&W Food Services) to use its trademarks, Trade Marks receives royalties equal to 3% of the sales of A&W restaurants in the royalty pool. The total number of A&W restaurants in the royalty pool is 1,047. The Fund's capital management objectives are to have sufficient cash and cash equivalents to pay distributions to its unitholders, after satisfaction of its debt service and income tax obligations; provisions for general and administrative expenses; retention of reasonable working capital reserves, and amounts that may be paid by the Fund in connection with any cash redemptions of units.
A&W REVENUE ROYALTIES INCOME FUND 
