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LONDON (Alliance News) - DP Poland PLC on Monday said its pretax loss for the half to the end of June narrowed as it continued to deliver robust like-for-like sales growth of Domino's Pizzas in Poland.
The company, which owns the exclusive rights to develop, operate and sub-franchise Domino's Pizza stores in Poland, said its pretax loss for the six months to the end of June was GBP1.1 million, compared to GBP1.9 million a year earlier.
Revenue for the group was slightly lower, down to GBP1.7 million from GBP1.9 million, due to stores it closed, but like-for-like system sales in the half were up 16% and the company's like-for-like order count was up 15%. This sales growth has continued in July and August, the company said, with like-for-like system sales up 18% in July and 17% in August year-on-year.
"On the back of continued improvement in store performance, we have been focused this year on finding and negotiating new sites. Our fourth store in Krakow opened in late August and is performing well. In October we will be opening in a third Polish city, joining Warsaw and Krakow, and we are targeting further store openings in additional cities by the year end," said Peter Shaw, DP Poland's chief executive. Shaw didn't name the third city.
Shaw also said it will soon open its new commissary, which will expand its capacity to supply fresh dough and ingredients to its stores in Poland and which will cut its dough production, warehousing, order picking and goods handling costs.
Shares in DP Poland were up 7.7% following the results to 19.65 pence, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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