Royalties, fees propel Noble Roman’s profit

Noble Roman’s Inc. yesterday reported third-quarter profit shot up 58.2 percent, to $2.1 million, on a rise in royalties and fees for the Noble Roman’s Pizza and Tuscano’s Italian Style Subs restaurants it franchises.

The Indianapolis company has been on a furious expansion spree-having signed a total of 24 territories to area developers, a move expected to result in 868 locations within eight years.

Its stock has shot up in the past year to trade near $6 a share after languishing near $1.

Royalty and fee income will rise in the “next few years” as it continues to open the dual-branded restaurants, Noble Roman’s said.

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