DP Poland reports robust first quarter of trading

29th Apr 2024 10:26

(Sharecast News) - DP Poland, the operator of Domino's pizza stores and restaurants in Poland and Croatia, reported a robust first quarter of trading in Poland on Monday, with double-digit sales growth in both delivery and non-delivery channels.

The AIM-traded firm said that despite challenges such as two fewer trading days due to an early Easter and the absence of a television campaign that supported the comparable period in 2023, strong order count growth was seen.

In Croatia, it said total system sales and like-for-like system sales continued to demonstrate strength, with the performance of the two new stores it opened in 2023 surpassing initial expectations.

"After almost two years since the adoption of a high volume mentality across all operations, we have transformed the Polish business into one of the fastest growing Domino's markets globally," said chief executive officer Nils Gornall.

"Momentum in the business is very strong and we are in an excellent position to drive company expansion.

"We are very pleased with the Domino's Pizza Group investment and results of the recent oversubscribed fundraise and are ready to embark on the journey to deliver 200 stores by the end of 2026 and transition the business towards a franchise led model."

DP Poland said it would announce its final results for the year ended 31 December in early June.

It said it anticipated full-year EBITDA for 2023 to align with market expectations.

At 0921 BST, shares in DP Poland were down 3.67% at 10.5p.

Reporting by Josh White for Sharecast.com.