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 strong first quarter same café sales growth of 6.1% and March distribution
Apr 11, 2007
5:00pm
MISSISSAUGA, ON, April 11 /CNW/ - Second Cup Royalty Income Fund has
announced that its Board of Trustees has approved a cash distribution of
$0.0910 per unit for the month of March, 2007 to be paid on April 30, 2007 to
unitholders of record at the close of business on April 27, 2007.
In addition, the Fund is also pleased to announce that same café sales
growth for cafés in the Royalty Pool was 6.1% for the period January 1, 2007
through March 31, 2007. This strong result follows a highly successful 2006
fourth quarter same café sales achievement of 7.8% and represents the ninth
consecutive quarter of positive same café sales growth since the inception of
the Fund in December 2004. System sales in the first quarter of 2007 were
boosted by the redemption of Second Cup Café Card balances originally loaded
during the holiday season, price increases implemented in 2006 and Second
Cup's winter promotional program. "We are very pleased with the continuing
strength of our same café sales growth and I would again like to thank our
guests, franchisees and colleagues for their ongoing dedication and commitment
to Second Cup", commented Bruce Elliot, President of The Second Cup Ltd.
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) 405-6516, investor@secondcup.com, www.secondcupincomefund.com