At Second Cup, we know that in order to provide the best coffee for our Guests, we must continue to work in harmony with both the environment and people who provide us with the best quality coffee beans. To both our Guests and coffee producers, we pledge that our coffee growing environment is treated with the utmost respect and dignity. All of our coffee producers provide a safe and healthy work environment and employees are compensated in a fair and equitable manner. As well, Second Cup continues to provide financial remuneration for quality beans to directly benefit the farmers, workers and mills. This is our promise.
Second Cup Royalty Income Fund announces March distribution and Same Café Sales Results for the first quarter
Apr 18, 2008
5:01pm
MISSISSAUGA, ON, April 18 /CNW/ - Second Cup Royalty Income Fund has
announced that its Board of Trustees has approved a cash distribution of
$0.0940 per unit for the month of March, 2008 to be paid on April 30, 2008 to
unitholders of record at the close of business on April 29, 2008.
In addition, the Fund also announced that same café sales growth for
cafés in the Royalty Pool was 1.4% for the period January 1, 2008 through
March 31, 2008. This represents the thirteenth consecutive quarter of positive
same café sales growth since the inception of the Fund in December 2004. While
sales were positively impacted by the additional day in February as a result
of the leap year, offsetting this was the negative impact of the inclement
weather experienced in the first few months of the year and a shift in the
Easter holiday to the first quarter in 2008 from the second quarter in 2007.
The Fund is an open-ended trust established under the laws of the
Province of Ontario. It holds, through an indirect wholly-owned limited
partnership, the Canadian trade-marks and other intellectual property and
associated rights used by The Second Cup Ltd. ("Second Cup") in connection
with the operation of Second Cup cafés in Canada. For more information on the
Second Cup Royalty Income Fund please visit www.secondcupincomefund.com.
Second Cup is Canada's largest specialty coffee café franchisor and
second largest retailer of specialty coffee, as measured by number of cafés.
For further information on Second Cup, visit www.secondcup.com.
%SEDAR: 00021352E
For further information: Stephen Devito, Chief Financial Officer, (905) 362-1824, investor@secondcup.com, www.secondcupincomefund.com