09:20 AM EDT, 05/09/2025 (MT Newswires) -- Boston Pizza Royalties Income Fund (BPF-UN.TO) on Friday reported a decrease in income in the first quarter.

The Fund's net and comprehensive income was $6.3 million, or earnings per diluted share of $0.21, for the three-months ended March 31, compared with $8.5 million or $0.37 per share, a year earlier. It said the decrease was primarily due to a $3.2 million increase in fair value loss and a $0.1 million increase in current income tax expense, partially offset by a $0.7 million increase in deferred income tax recovery and a $0.5 million increase in Royalty Income and Distribution Income.

Total revenue increased to $12.3 million in Q1 compared with $11.8 million, a year-ago. Franchise sales reported by restaurants in the Royalty Pool was $231.1 million in Q1, compared with $222 million, in the prior-year period.

The company also declared a dividend for April of $0.115 per unit, unchanged from the prior month, that is payable on May 30 to unitholders of record on May 21.

"The positive response from our guests and the momentum in our business are especially encouraging as we prepare to navigate an increasingly complex economic environment in the quarters ahead," said Boston Pizza International President Jordan Holm. "We're focused on building on this strong start by supporting our franchisees, delivering memorable dining experiences, and continuing to innovate in ways that drive long-term success."

Shares of the company closed up 0.9% to $18.77 on Thursday on the Toronto Stock Exchange