Friday, November 6th, 2009
Keg Royalties Income Fund reports profit down from year ago, sales steady
VANCOUVER, B.C. - The Keg Royalties Income Fund (TSX:KEG.UN) said Friday that it earned $2.9 million in its latest quarter as sales held steady compared with a year ago.
The steakhouse income trust said the profit amounted to 30 cents per unit for the quarter ended Sept. 30 compared with a profit of $3 million or 32 cents per unit a year ago.
Sales at restaurants included in the royalty pool totalled $108.3 million, up from $108 million a year ago.
Same store sales fell by 4.7 per cent in Canada and by 19.8 per cent in the United States in the quarter.
There were 102 restaurants in the royalty pool compared with 96 a year ago.
The fund earns a royalty of four per cent of gross sales of Keg restaurants included in the royalty pool.
