DP Poland reports strong summer growth

DP Poland updated the market on its recent trading on Friday, reporting a 23.5% improvement in like-for-like system sales year-on-year in June.

The AIM-traded firm, which is the master franchisee for Domino’s Pizza in Poland, reported “strong growth” in dine-in sales of 55.8% on a like-for-like basis compared to June last year, and of 21.3% compared to the pre-pandemic period in June 2019.

Delivery like-for-like system sales had continued to grow by 9.6%, despite a resurgence of dine-in sales following the relaxation of Covid-19 restrictions.

Total system sales were 20.5% higher in June 2022 than in June 2021.

Like-for-like system sales for the first 10 days of July, meanwhile, increased 32.9% year-on-year, with delivery system sales continuing to present “strong growth” of 21.4%, and dine-in sales upholding the June trend with growth of 55.3%.

Cash at bank totalled £0.8m on 30 June, down from £1.8m at the end of December, which the board put down to capital expenditure for two new stores openings, the purchase of six new ovens, 30 new fuel scooters, 50 e-bikes, as well as working capital needs.

“I am delighted to see the strong sales performance achieved in the first half of 2022 continuing which is a consequence of our hard work in prior months and investment in customer acquisition,” said chief executive officer Piotr Dzierżek.

At 1224 BST, shares in DP Poland were up 10.34% at 6.4p.

Reporting by Josh White at Sharecast.com.