The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksDPEU.L Share News (DPEU)

  • There is currently no data for DPEU

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

DP Eurasia soars on takeover offer; celebrates revenue jump

Tue, 28th Nov 2023 12:12

(Alliance News) - DP Eurasia NV on Tuesday received a takeover bid from Jubilant FoodWorks Ltd's Dutch subsidiary for its remaining shares and separately reported a boost in year-to-date sales.

Shares in DP Eurasia were trading 22% higher at 83.51 pence each in London on Tuesday midday.

DP Eurasia is a master franchisee for Domino's Pizza Group PLC in Turkey, Azerbaijan and Georgia. Jubilant Foodworks owns the master franchise for Domino's Pizza in India, Nepal, Sri Lanka and Bangladesh. It also operates Popeyes and Dunkin' Donuts.

Jubilant Foodworks' Dutch division, Jubilant Foodworks Netherlands BV, currently holds a 48.84% stake in DP Eurasia.

Jubilant Foodworks plans to make a purchase offer of 85 pence in cash for each DP Eurasia share held, valuing the entire company's issued share capital at GBP124.6 million. The remaining shares not owned by Jubilant Foodworks are valued at GBP63.7 million.

The offer price represents a premium of approximately 24% to the group's closing share price on Monday of 68.5p per share.

Separately, DP Eurasia reported that in the 10 months to October 31, group system sales for continuing operations grew 38% to TRY6.20 billion, or GBP169.8 million, from TRY4.50 billion for the corresponding 10 months a year ago.

DP Eurasia also said it delivered "excellent" like-for-like revenue growth in Turkey of 30%, which reflected the company's "ongoing focus on network expansion, strategic pricing, product and service innovation," it said.

Azerbaijan and Georgia delivered LFL growth of 7.7% and 5.0% respectively in local currencies.

Additionally, online delivery system sales in Turkey increased to 84% from 81% a year ago.

DP Eurasia also noted that its net new store opening momentum was "maintained", with 41 Domino's Pizza openings in Turkey in the 10 months.

Looking ahead, the restaurant owner said it continues to trade in line with its full-year guidance. It expects an LFL growth rate in the high teens and 35 to 40 net store openings for Domino's Pizza.

Chief Executive Officer Aslan Saranga said: "Strong trading momentum has been maintained, and we remain dedicated to our well-designed, targeted strategy. Execution of this enables us to continue to deliver solid growth, as we focus on three core areas - strategic pricing and product innovation, continued digital innovation, and operational efficiencies to generate sustainable profitability.

"This has been another excellent period for the group, and we look forward to a strong end to the financial year."

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
14 Jul 2021 14:46

TRADING UPDATES: Numis boosted by busy IPO market; Cora spots gold

TRADING UPDATES: Numis boosted by busy IPO market; Cora spots gold

Read more
7 Jul 2021 16:00

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
1 Jun 2021 15:51

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
18 May 2021 19:15

TRADING UPDATES: Forterra to beat outlook; Nostrum revenue falls

TRADING UPDATES: Forterra to beat outlook; Nostrum revenue falls

Read more
11 May 2021 16:14

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
23 Mar 2021 11:27

TRADING UPDATES: McColl's decides against payout; Luceco profit surges

TRADING UPDATES: McColl's decides against payout; Luceco profit surges

Read more
23 Mar 2021 11:10

SMALL-CAP WINNERS & LOSERS: Luceco shines after record-breaking year

SMALL-CAP WINNERS & LOSERS: Luceco shines after record-breaking year

Read more
16 Mar 2021 15:53

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
19 Feb 2021 17:41

IN BRIEF: Jubilant Buys Fides, Becomes Biggest DP Eurasia Shareholder

IN BRIEF: Jubilant Buys Fides, Becomes Biggest DP Eurasia Shareholder

Read more
1 Feb 2021 14:48

EXECUTIVE CHANGES: Tracsis Confirms Andy Kelly's Appointment As CFO

EXECUTIVE CHANGES: Tracsis Confirms Andy Kelly's Appointment As CFO

Read more
27 Jan 2021 16:11

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder Meetings Calendar - Next 7 Days

Read more
26 Jan 2021 14:54

TRADING UPDATES: Eagle Eye Interim Revenue Up But Stays Cautious

TRADING UPDATES: Eagle Eye Interim Revenue Up But Stays Cautious

Read more
19 Jan 2021 16:02

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

Read more
15 Dec 2020 14:18

IN BRIEF: DP Eurasia Considers Dual Listing On Turkish Stock Exchange

IN BRIEF: DP Eurasia Considers Dual Listing On Turkish Stock Exchange

Read more
18 Nov 2020 17:17

DP Eurasia Sees Strong Trading Momentum Despite Impact of Covid-19

DP Eurasia Sees Strong Trading Momentum Despite Impact of Covid-19

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.