Last checked at 5 May 2015 11:21
DP Poland PLC ("DP Poland" or the "Company")
Result of AGM and Trading Update Q1 2015.
10 consecutive quarters of double digit like-for-like system sales growth. Continuing improvement in store EBITDA performance. Commissary profit building.
DP Poland, through its wholly owned subsidiary DP Polska S.A., has the exclusive right to develop, operate and franchise Domino's Pizza stores in Poland. It currently operates 12 corporate stores in Warsaw and Krakow and franchises 6 stores in Warsaw.
Result of AGM
DP Poland plc (AIM:DPP) held its Annual General Meeting today and all resolutions put to shareholders were duly passed.
Trading update Q1 2015
· Strong like-for-likes1 Q1 2015 on Q1 2014
o Like-for-like system sales2 (PLN) up 17%
o Like-for-like gross profit3 (PLN) up 29%
o Like-for-like system order count4 up 16%
· Total stores5 EBITDA positive for each month of Q4 2014 and Q1 2015
· Franchisees reporting improving store profitability
· Commissary contribution building Q1 2015 on Q4 2014
Peter Shaw, Chief Executive of DP Poland said:
"Q4 2014 saw an inflection point in store performance with total store EBITDA positive each month for the first time. Q1 2015 saw a further strengthening in the EBITDA performance of our corporate stores and our franchisees report continuing improvement in their store profitability.
With the establishment of the commissary as a profit centre in Q4 2014, following the franchising of a third of the store estate, we are seeing the variable profit of commissary beginning to build through royalties on retail sales, sales of food and non-food items to franchisees.
2015 promises to be another year of progress as our maturing stores deliver growing returns and we extend the estate into new cities."
5 May 2015
Enquiries:
DP Poland PLC Peter Shaw, Chief Executive www.dppoland.com | 020 3393 6954 |
Peel Hunt LLP Dan Webster/ Richard Brown/ George Sellar | 020 7418 8900 |
1 Like-for-like growth in PLN, matching trading periods for the same stores between 1 January and 31
March, 2014 and 1 January and 31 March, 2015.
2 System Sales - total retail sales including sales from corporate and franchised stores
3 Sales minus food costs. This figure excludes franchised stores
4 Order count for corporate and franchised stores
5 Total stores includes corporate and franchised stores