(Alliance News) - DP Poland PLC on Friday said coronavirus hurt its operations in March, but the pizza delivery firm has seen a recovery in the past two months.
Ahead of its annual general meeting, the company, which operates franchise Domino's Pizza stores in Poland, said trading in 2020 has started broadly in line with management's expectations.
Coviud-19 has had relatively little impact on DP Poland's business in comparison to other businesses in its industry as it has been able to keep open all of its stores.
System sales were down 10% in the month of March on a year before. On a like-for-like basis, they fell by 14%.
However, performance recovered in the following months, DP Poland said, with system sales up by 6% on 2019, and like-for-like system sales up by 3%, in each of the months of April and May.
DP Poland noted that a positive impact of Covid-19 has been a reduction in its food and labour costs and in some of its rent costs.
However, the company said it incurred some additional costs as well, principally in connection with safety and cleaning, across its operations to meet the requirements of Covid-19 regulations.
"These unprecedented times continue to pose an uncertain trading backdrop. As such, we remain unable to provide any guidance for the full year. However, while the Covid-19 crisis presents our industry in Poland with some major obstacles, I believe that we are in a relatively good position, given in particular our focus on delivery and online channels," said Chief Executive Iwona Olbrys.
AIM-listed DP Poland shares were trading 2.6% lower in London on Friday at 7.40 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Dp Poland (DPP)