Business
Full year unaudited trading update for 2020
Full year unaudited trading update for 2020.
About this update from Dp Poland Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0317U\n DP Poland PLC\n 31 March 2021\n \n \n \n \n 31 March 2021\n \n DP Poland PLC\n (\"DP Poland\" or the \"Group\")\n \n Full year unaudited trading update for 2020\n and\n Update on the progress of integration with Dominium S.A.\n \n DP Poland, the operator of pizza stores and restaurants across Poland, announces a trading update for the year ended 31 December 2020 and an update on the progress of integration following completion of the acquisition of Dominium S.A. (\"Dominium\") (the \"Acquisition\") on 8 January 2021.\n Trading Update\n DP Poland's trading performance is in line with management expectations for the year ended 31 December 2020:\n \n · 53 corporate stores and 16 sub-franchised stores in operation\n \n · System Sales1 up 7% to PLN 87.1m (2019: PLN 81.4m)\n \n o approximately 4.6% like-for-like2 growth in System Sales\n \n · 85% of delivery sales ordered online (2019: 82%)\n \n · Cash at bank of £1.2m as at 31 December 2020 (pre-fundraise; £3.9m as at 31 December 2019)\n Trading performance for the Group and pro forma consolidated results for the year ended 31 December 2020 (which include the unaudited results of Dominium for the year ended 31 December 2020 for illustrative purposes):\n \n \n \n \n \n \n DP Poland\n (standalone)\n \n \n Pro forma consolidated\n (incl. Dominium)\n \n \n \n \n System Sales\n \n \n PLN 87.1m\n \n \n PLN 158.2m\n \n \n \n \n Revenues\n \n \n PLN 74.8m\n \n \n PLN 144.7m\n \n \n \n \n \n · As of 31 December 2020, prior to the Acquisition completing, DP Poland and Dominium (together the \"Enlarged Group\") operated a combined 125 stores, including 107 corporate stores and 18 sub-franchised stores\n \n · The Enlarged Group's business is currently skewed towards delivery sales, which generated 75% of System Sales in 2020. Management believe this provides a stable basis should restrictions linked to the COVID-19 pandemic continue throughout 2021, linked with an opportunity to recover some of the lost dine-in sales once the restrictions are lifted\n \n · -1.1% like-for-like decline in System Sales, comprising:\n \n o a significant like-for-like growth in delivery sales (+16.6%)\n \n o a significant like-for-like decline in dine-in sales (-32.6%). Dine-in sales have been negatively impacted by the...