25 May 2012

Domino's Pizza opens in Poland

28/02/2011 Miles Nolan

AIM quoted DP Poland (DPP) has opened its first Domino's Pizza store in Poland. DP floated last year at 50p a share after a £6.5m share placing with plans to rollout new sites. It is on course to open 12 stores by the end of 2011, and a further 15 next year.

The new outlet is located in the wealthy Mokotów district of Poland, an area with a well developed business district. Poland has a population of 38m and is the only member of the EU to escape recession in 2009 - growth in GDP of over 3 per cent is expected this year. DP hopes to tap into the rise in one and two person households and increasing disposable incomes.

The Polish take-away market is valued at £285m with four main branded pizza chains. Given the huge success of Domino's in the UK the intention is to replicate their aggressive rollout model. Unfortunately the sad news of the death of chairman Richad Worthington last year held DP in its tracks but Peter Shaw, a highly experienced consumer goods operator, has stepped up to the role of chief executive.

The shares are up 3 per cent this morning to 75.5p, valuing the fledgling enterprise at £14.8m. If DP can emulate a fraction of the success of Domino's investors should be in for an exciting ride.

Tags: AIM market, Domino's Pizza, EU, Placing, Poland

Sector: Travel & Leisure

Companies: DP Poland

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