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(Alliance News) - DP Poland on Tuesday deemed 2023's final three months as "the strongest quarter in the company's history", and expects volume led growth to provide significant momentum going into 2024.
DP Poland is the London-based operator of Domino's pizza stores and restaurants in Poland and Croatia.
The company expects 2023 group system sales of GBP46.0 million for the full year, citing a record performance in the fourth quarter. Like-for-like system sales in Poland grew 28% over the three months ended December 31, with full-year growth at just under 20%. DP said this was thanks to an increase in LFL system orders, up 27% in the fourth quarter and 16% over the year.
Poland's average order count exceeded 800 per week in the fourth quarter and 731 for the full year, up 19% from 2022.
Total system sales in Croatia also grew 78% in the quarter, and by 44% for the year, while new store openings in the country drove total order counts up 30%.
Thanks to the "record year", DP Poland was able to achieve pre-IFRS16 earnings before interest, tax, depreciation and amortisation profitability from August, and the company said that its full-year performance remains in line with expectations.
Looking ahead, DP Poland said it anticipates its "volume-led growth" to continue, which will benefit from easing inflationary pressures as well as what it calls "a new pro-European parliament" following Poland's October elections.
Chief Executive Officer Nils Gornall said: "2023 has been a year of hard work and high rewards, with 2023 being a record year and Q4 being the strongest quarter in the company's history."
"We finish the year with a store network that has been optimized, supporting higher like-for-like sales as well as growing our store count to 116 stores. Importantly, we have a highly motivated team ready to continue the momentum we have built in 2023, and I'm excited to see the business well positioned to capitalise on this potential in 2024," he added.
Shares in DP Poland were up 2.8% at 11.00 pence each in London on Tuesday morning.
By Hugh Cameron, Alliance News reporter
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