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DP Poland PLC on Friday reported a ‘strong’ sales performance in the past month and a half, and said the reorganisation of an acquisition will complete before the planned date.
Shares were up 6.9% at 6.20 pence each on Friday in London.
The franchise in Poland for Domino's Pizza said system sales were significantly above pre-Covid levels in June.
The company saw like-for-like system sales increased by 24% compared to a year ago and by 23% compared to June 2019. Total system sales were up by 21% compared to June 2021 and 15% compared to June 2019.
In the first 10 days of July, LFL system sales increased by 33% on a year before.
Cash stood at £800.000 as at June 30, down from £1.8 million as at December 31. ‘The decrease in cash balance results from capital expenditure for two new stores openings, purchase of 6 new ovens, 30 new fuel scooters, 50 e-bikes and covering working capital needs,’ DP Poland explained.
Chief Executive Officer Piotr Dzierzek said: ‘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.’
DP Poland announced on June 15 that it had agreed to buy All About Pizza DOO, trading as Domino's Croatia, for about £2.4 million, through the issue of 29.8 million shares at 8p per share.
On Friday, the company said it expects this to complete ahead of the previously planned date of July 29.
As part of the deal, Domino's Croatia Chief Executive Nils Gornall will take over as CEO of all of DP Poland.
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