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DP Eurasia sales rise on strong performance in Turkey
StockMarketWire.com
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DP Eurasia reported that system sales increased 11.8% in the ten months through the end of October, as stronger performance in Turkey offset weakness in Russia.
Turkish systems sales rose 23.3%, while Russian system sales decreased 8.7%.
Online system sales grew 37.9% and online delivery system sales as a share of delivery system sales grew to 75.2% from 68.7% last year.
In Turkey, September to October like-for-like growth rate was 43.4%, driven mainly by delivery and, also, tailwinds from a temporary reduction in the VAT rate to 1% from 8%, the company said.
In Russia, operations we have continued to see an improving trend in like-for-like growth, at -6.4% and -2.2% in September and October, respectively, up from the -10.9% reported in July/August and the lows of -30%s during the Moscow lockdown in the spring.
Following restrictions to curb the covid-19 spread in Turkey, the company said it expects its stores to remain open and fully operational for takeaway, and delivery services.
In 2020, ten stores were opened overall with a further 16 leases signed in Turkey; offsetting 14 and 13 store closures in Turkey and Russia, respectively, due to Covid-19, the company said.
At 8:56am: (LON:DPEU) DP Eurasia share price was 0p at 31p
Story provided by StockMarketWire.com
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