Tax charge hits Boston Pizza

According to a news report from thestar.com, "Boston Pizza Royalties Income Fund (TSX: BPF.UN) reported Wednesday a second-quarter profit of $1.5 million, down from year-earlier net earnings of $3.5 million, as it recorded a $2.8-million future income tax charge related to tax changes for trusts that begin in 2011."

"The Vancouver-based trust said it earned 12 cents per unit on a diluted basis, compared with 32 cents per unit in the prior-year period," said the story. "Earnings before income taxes, a combination of revenue from operating unit Boston Pizza International Inc. and interest income, rose to $4.3 million from $3.5 million in the prior-year period."

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