SIR Royalty Income Fund Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 10, 2022 at 10:30 pm
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SIR Royalty Income Fund reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was CAD 4.54 million compared to CAD 2.69 million a year ago. Net income was CAD 4.11 million compared to CAD 2.2 million a year ago. Basic earnings per share from continuing operations was CAD 0.49 compared to CAD 0.26 a year ago. Diluted earnings per share from continuing operations was CAD 0.46 compared to CAD 0.26 a year ago.
For the nine months, revenue was CAD 39.61 million compared to CAD 4.11 million a year ago. Net income was CAD 36.61 million compared to CAD 2.61 million a year ago. Basic earnings per share from continuing operations was CAD 4.37 compared to CAD 0.31 a year ago. Diluted earnings per share from continuing operations was CAD 3.9 compared to CAD 0.31 a year ago.
SIR Royalty Income Fund (the Fund) is a Canada-based trust, which receives distribution income from its investment in the SIR Royalty Limited Partnership and interest income from the SIR Loan. The Fund holds an investment in SIR Corp. SIR owns a portfolio of approximately 54 restaurants in Canada. SIR's Concept brands include Jack Astor's Bar and Grill, with 37 locations, and Scaddabush Italian Kitchen & Bar, with 11 locations. SIR also operates Signature brands, including Reds Wine Tavern, Reds Square One, Reds Kitchen + Wine Bar Fallsview and The Loose Moose. SIR also owns two additional Signature restaurants, including Duke's Refresher & Bar in downtown Toronto, and Abbey's Bakehouse, a seasonal restaurant in Muskoka, Ontario.
SIR ROYALTY INCOME FUND 
