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A&W Revenue Royalties Income Fund's (AWRRF) CEO Susan Senecal on Q2 2021 Results - Earnings Call Transcript

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A&W Revenue Royalties Income Fund (OTC:AWRRF) Q2 2021 Earnings Conference Call July 28, 2021 4:00 PM ET

Company Participants

Susan Senecal – President and Chief Executive Officer

Kelly Blankstein – Chief Financial Officer

Conference Call Participants


Good day, and welcome to the A&W Revenue Royalties Income Fund Q2 2021 Results Conference Call. Today's conference is being recorded.

At this time, I would like to turn the conference over to Ms. Susan Senecal. Please go ahead, ma'am.

Susan Senecal

Thanks, Casey. Good afternoon, everyone, and thank you for taking the time to attend our call today. I'm Susan Senecal, I'm President and CEO of A&W Food Services of Canada and CEO of the A&W Revenue Royalties Income Fund. With me on the call today is Kelly Blankstein, who is the Chief Financial Officer of A&W Food Services and the Fund; and Lisa Marzocco, who is our Director of Finance.

Today, we are presenting results of the fund for the second quarter, which ended on June 20, 2021. Same-store sales growth was 33.5% for the second quarter of 2021 as compared to the second quarter of 2020. Year-to-date, same-store sales growth for 2021 is now 12.2% as compared to the same period in 2020. When comparing results of the second quarter of 2021 to the second quarter of 2020, it's important to remember that COVID-19 had the most pronounced impact on A&W restaurants to date in the second quarter of 2020.

I will discuss the impact of COVID-19 in more detail at the end of the call. As a result of the performance by the A&W restaurants in the Royalty Pool, I'm pleased to report that the monthly distribution to unitholders will increase from $0.135 per unit to $0.15 per unit, beginning with the July distribution, which is payable on August 31, 2021.

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