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Sir Royalty Income Fund (T:SRV.UN)

Business Focus: Restaurants & Bars

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Sector:  Consumer Cyclicals Industry:  Restaurants & Bars
See Regulatory Filings on SEDAR
Company Contact
Address: 5360 South Service Rd
Tel: 1-416-4474740
IR: See website
Key People
John McLaughlin
Independent Chairman of the Board of Trustees
Peter Donald Fowler
President, Chief Executive Officer, Trustee
Business Overview
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 and Canyon Creek Chop House, and signature restaurant brands, such as Reds Wine Tavern, Reds Midtown Tavern, Far Niente/FOUR/Petit Four and the Loose Moose Tap & Grill, 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 intends to pay distributions to unitholders on a monthly basis. The Fund indirectly participates in the revenues generated under the License and Royalty Agreement through its Investment in the Partnership. SIR also owns and operates a Duke's Refresher & Bar located in downtown Toronto and one seasonal restaurant, Abbey's Bakehouse.
Financial Overview
For the six months ended 30 June 2019, SIR Royalty Income Fund revenues was not reported. Net income increased from C$3.3M to C$12.5M. Net income benefited from Change in estimated fair value of the SI decrease from C$1.8M (expense) to C$13.3M (income). Dividend per share increased from C$0.59 to C$0.63. Basic Earnings per Share excluding Extraordinary Items increased from C$0.40 to C$1.50.
Employees: 5,000 as of Mar 11, 2016
Reporting Currency: Canadian Dollars
Enterprise value: $109.67M as of Jun 30, 2019
Annual revenue (TTM): $0.00M as of Jun 30, 2019
EBITDA (TTM): $11.04M as of Jun 30, 2019
Net annual income (TTM): $14.30M as of Jun 30, 2019
Free cash flow (TTM): $0.06M as of Jun 30, 2019
Net Debt Last Fiscal Year: N/A
Shares outstanding: 8,375,567 as of Jun 30, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization