World News

Keg Royalties sees stronger Q2 sales

By The Canadian Press

VANCOUVER - The Keg Royalties Income Fund (TSX:KEG.UN) says that the restaurants in its group had a 9.6 per cent increase in sales for the second quarter, reflecting a combination of higher same-store sales and one additional location.

The fund's royalty income for the three months ended June 30 was $5.04 million, up from $4.7 million a year earlier.

The royalties are based on a percentage of sales at Keg steak restaurants in Canada and the United States.

In the latest quarter, there were 103 restaurants in the royalty pool representing $125.4 million of sales, up $10.97 million from a year earlier when there were 102 locations in the pool.

Distributions paid to holders of the fund's units were unchanged at $2.725 million or 24 cents per unit, or about 98.9 per cent of the cash available for distribution.

Keg Royalty units closed Monday at $16.24 on the Toronto Stock Exchange.

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

Community Events, August 2016

Add an Event