21st Mar 2016 09:16
LONDON (Alliance News) - DP Poland PLC on Monday reported a narrowed pretax loss in 2015, boosted by strong system sales growth as it continues expanding its pipeline of stores.
DP Poland, which owns the exclusive rights to develop, operate and sub-franchise Domino's Pizza stores in Poland, said its pretax loss in 2015 narrowed to GBP2.2 million from GBP3.6 million in 2014.
Revenue slipped to GBP3.6 million from GBP3.8 million following the sale of five corporate stores to sub-franchised stores in 2014, but system sales grew by 15%. System sales are total retail sales including sales from corporate and sub-franchised stores.
Like-for-like system sales rose by 16% and like-for-like order count was up by 14%.
DP Poland said double-digit like-for-like system sales growth continued in January and February, up 27% year-on-year.
DP Poland opened five stores in 2015, four of which are corporate and one which is sub-franchised. Including a further store opening in February, the company now has 24 stores in five cities. It said a further two stores are soon to open and that it has a significant pipeline for 2016.
"2016 looks set to continue the strong story of 2015, with robust consumer demand, strong like-for-likes and the encouraging performance of new store openings in and beyond Warsaw. We anticipate finishing the year with a significantly larger store estate, led by corporate store openings piloting the launch of Domino's Pizza in new towns and cities," Chief Executive Peter Shaw said in a statement.
"Expansion is not without its challenges, but I believe that the combination of a proven team, a well-funded roll-out plan and the evident popularity of the Domino's proposition will see 2016 become a significant milestone year for Domino's Pizza in Poland," he added.
Shares in DP Poland were trading down 3.6% at 27.00p on Monday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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