DP Poland PLC - Full Year Results Deferral and COVID-19 Update
Change to full year results date and COVID-19 update
Delay to full year results due to
DPP announces that, whilst the Board had declared an intention to announce the Group's audited results for the year ended
The original reporting date falls within the two-week moratorium recommended by both bodies and the Group will, therefore, report no earlier than
In line with our announcement on
Given the delay to the audited full year results and the increased uncertainty created by the spread of COVID-19, the Group today provides an update on its operational response, current trading and outlook.
COVID-19 response, current trading and outlook
Trading in 2020 started broadly in line with management's expectations for the full year, with only minimal impact from COVID-19 in the first two months of 2020.
With effect from Saturday,
We have appointed a senior, fully dedicated COVID-19 team, which is focused on this crisis all day and every day. We are following the advice of government and health authorities to ensure that our stores can continue to operate safely and deliver delicious pizzas to our customers.
DPP therefore continues to trade, making deliveries from all of its 69 stores. The Group's high level of online ordering of delivery sales (82% in 2019), which supports online payment for food orders, is proving attractive to customers in the prevailing environment. In addition we have introduced a Contactless Delivery and Contactless Carry-out process for customers, which have been well received. Eat In dining has stopped altogether for the present.
Meanwhile, we are currently seeing reductions in the cost of ingredients, particularly in cheese - a key component of most pizzas. In addition, in recent weeks the recruitment market has improved markedly for us.
Our first priority is the health and wellbeing of our people. We follow the health and safety recommendations of the local and national authorities in
Overall, the situation is changing rapidly, and it is difficult to foresee the potential impact on our business and the further threats and opportunities that may await us. As such, there is little visibility on the potential full year outcome for our 2020 Financial Year at this time. However, for so long as we are permitted to continue to sell and deliver great pizzas to our customers we believe that we are well placed to trade relatively well during the lock down. Nevertheless, we cannot anticipate how our customers might react to circumstances, which change almost daily.
Thanks to the strength of the Domino's brand and its reputation for quality of food and service, however, the Board is confident of being well positioned for growth and the long-term success of the business.
"Our first priority is to do all we can to support responsibly the global efforts to control the spread of COVID-19, and to safeguard our employees and our customers.
Since arriving at DPP in late
The Coronavirus presents our industry - and business in general in
In light of the Coronavirus concerns, we now offer contact free delivery and carry out. We continue to create new initiatives and seek to adapt to the 'new world'.
Our customers order their pizzas increasingly on our digital platforms, and pay for their orders on that platform too. In
Whilst the outlook for the world at present is uncertain, in this new world I believe that DPP occupies an important position in the Polish Food & Beverage industry."
Iwona Olbryś, CEO
Peel Hunt LLP 020 7418 8900
This information is provided by RNS, the news service of the
Quick facts: DP Poland PLC
Market Cap: £17.94 m
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