25 May 2012

DP pushes ahead

19/09/2011 Ben Jaglom

Polish Domino's pizza franchisee DP Poland (DPP) has reported maiden sales as it continues with plans to expand in the country.

The company, which joined AIM last July at 50p in a float that raised £6.5 million to fund the construction of a number of stores in Poland announced sales of £66,676 over the six months to June. Losses widened from £389,601 to £640,364 while cash stood at £3.7 million.

Since coming to the junior market last year DP has reported a number of store openings, in particular in the capital Warsaw with its current estate standing at six with another six leases signed for 2011 and two for 2012, with DP noting that it is 'on track' to reach its target of having 12 store openings by the end of this year.

In an interview with Growth Company Investor chief executive Peter Shaw enthused that DP was benefiting from its 'high quality' noting that DP is 'selling a quality story and a critical part of that is building a brand.' He noted that it was targeting the 'relatively affluent middle class' of Warsaw arguing that DP is a 'city as opposed to a country story.'

First recommended by Growth Company Investor at its float at the price of 50p the shares have since risen to 88p. Benefiting from a resilient Polish economy, and operating in a country with limited competition in the pizza delivery sector, the shares could well have further to go. Buy.

Tags: AIM floats, Doing business in Poland, Pizza business

Sector: Travel & Leisure

Companies: DP Poland

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