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DP Poland PLC - Full Year Trading Update

RNS Number : 2655C
DP Poland PLC
07 February 2020
 

DP Poland PLC

("DP Poland" or the "Group")

 

Full year trading update for 2019, unaudited

System Sales up 13%. Like-for-likes up 3% for the year, up 6% in H2. 82% of delivery sales ordered online. 69 stores.

DP Poland, through its wholly owned subsidiary DP Polska S.A., has the exclusive right to develop, operate and sub-franchise Domino's Pizza stores in Poland. There are currently 69 Domino's Pizza stores across 29 cities and towns, 43 corporately managed, 3 under management contract and 23 sub-franchised

Group performance in line with management expectations for 2019

·     Cash at bank of £3.6m as at 31 December 2019 (£2.0m as at 31 December 2018)

·     System Sales[1]up 13% to 81m PLN 2019 (72m PLN 2018)

Including 6 highest monthly levels of System Sales for the Group to date

3% like-for-like[2] growth in System Sales 2019 on 2018

-1% like-for-like growth in System Sales H1 2019 on H1 2018, reflecting the strong comparatives driven by TV advertising in January and February 2018

6% like-for-like growth in System Sales H2 2019 on H2 2018

·     82% of delivery sales ordered online (77% 2018)

·     Store numbers in 2019 increased from 63 to 69 stores, satisfying the Domino's Pizza Master Franchise Agreement requirement

·     6 new corporate stores opened

·     3 corporate stores acquired by 2 new sub-franchisees across Poland

·     2 corporate stores taken under management contract

Iwona Olbryś, Chief Executive of DP Poland said:

"2019 delivered continued expansion and growth in System Sales during the year, notwithstanding the strong comparatives driven by our TV advertising in January and February 2018.

While we continue to experience the impact of competition and labour inflation particularly, we expect to continue to see the positive effects of our well-received marketing campaign, our strong digital presence, and the strength of the Domino's reputation for quality and service. 

Poland's delivery market is expanding and DPP is well-placed to participate in this growth. Our confidence comes from our positioning in the market place with the Domino's brand and our experienced team offering to the market great products, service and price."

DP Poland will release its full year results for 2019 on 31 March 2020.

Enquiries:

DP Poland PLC                                 020 3393 6954

Nick Donaldson, Non-Executive Chairman 

Iwona Olbryś, CEO

 

Peel Hunt LLP                                   020 7418 8900

Adrian Trimmings

Andrew Clark

[1] System Sales - total retail sales including sales from corporate and sub-franchised stores, unaudited

 

[2] Like-for-like System Sales growth in PLN, matching trading periods for the same stores between 1 January and 31 December 2018 and 1 January and 31 December 2019

 


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Quick facts: DP Poland PLC

Price: 7.0651

Market: AIM
Market Cap: £17.94 m
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