08:26 AM EDT, 08/02/2024 (MT Newswires) -- Boston Pizza Royalties Income Fund (BPF-UN.TO) and Boston Pizza International (BPI) on Friday reported lower income for the second quarter.

The Fund's net and comprehensive income was $7 .5 million for the period compared to $12 .8 million for the second quarter of 2023. It said the $5.3 million decrease was primarily due to a $6 .0 million decrease in fair value gain, an increase in net interest expense of $0.2 million and an increase in administrative expenses of $0.1 million, partially offset by a $0.8 million decrease in deferred income tax expense and an increase in royalty and distribution income of $0.2 million.

It reported franchise sales of $236.8 million for the period and $458.8 million YTD, representing an increase of 1.3% and 0.2%, respectively, versus the same periods one year ago.

It had Same Restaurant Sales, a key driver of distribution growth for unitholders, of 1.7% for the period compared to 6.6% reported in the second quarter of 2023. SRS for the period was principally due to menu price increases.

And it had cash flows generated from operating activities of $9.6 million for the period and $18.7 million YTD, representing decreases of 1.5% and 1.4%, respectively, versus the same periods one year ago.