Sir Royalty Income Fund T.SRV.UN

Alternate Symbol(s): SIRZF

Consumer Cyclical Restaurants

SIR Royalty Income Fund (the Fund) holds investment in SIR Corp (SIR). The Funds' investment, SIR is engaged in the business of owning and operating full-service restaurants in Canada. SIR has concept restaurant brands, including Jack Astor’s Bar and Grill, Scaddabush Italian Kitchen & Bar, and Canyon Creek Chop House, signature restaurant brands, such as Reds Wine Tavern, Reds Midtown Tavern, Reds Square One, and The Loose Moose, which are used by SIR under a license agreement with SIR Royalty Limited Partnership (the Partnership. The Fund receives distribution income from its investment in the Partnership and interest income from the SIR Loan. The Fund indirectly participates in the revenues generated under the License and Royalty Agreement through its Investment in the Partnership.

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Sir Royalty Income Fund

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Post by flamingogoldon Nov 10, 2023 10:52am

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Post# 35728345

Strong Scaddabush SSSG

SRV navigating a tough economy with laser precision. Payout ratio well below the limit at 87.8% (100% is the acceptable target). Scaddabush, while the minor contributor to the bottom line is experiencing strong SSSG of 10% and why they are planning on expanding with 4 new locations.

"We also opened our 11th Scaddabush restaurant this past quarter and plan to open four more locations in the months ahead to further capitalize on the strong momentum of this brand. While the current economic environment is having an impact on discretionary consumer spending, we are confident that these investments will further elevate our brands and enhance value for fund unitholders."

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