Pizza company DP Eurasia FY sales jump 77% (updated)
30/01/2023 07:33
(Adds detail)
Jan 30 (Reuters) - DP Eurasia DPEU.L , which runs the
Domino's Pizza brand in Turkey and Russia, said on Monday it
continued to consider its presence in Russia after delivering a
jump in full-year sales.
The London-listed firm said system sales, which include
sales from its own and franchised stores, rose 76.5% to 4.21
billion Turkish lira ($223.82 million). Adjusted for
hyperinflation in Turkey, sales grew 13.1%.
DP said the growth was achieved due to network expansion
and strategic pricing, as well as high demand from its coffee
shop chain.
The company added that it was still evaluating its presence
in Russia and had closed 29 stores in the country in 2022,
bringing the number of outlets to 159 as of Dec. 31.
DP said in late December it was
considering options
for its Russian operations, including a divestment.
While many Western companies, including McDonald's
MCD.N pulled out of Russia after Moscow's invasion of Ukraine
began last February, DP Eurasia
said
in April it planned to stay, but would limit investment
there.
DP opened 48 new stores in Turkey in 2022, ahead of its
previously guided range of 30-40.
It said it anticipates its adjusted earnings before
interest, taxes, depreciation and amortisation (EBITDA) for 2022
to come ahead of current market expectations.
($1 = 18.8101 liras)
(Reporting by Anna Pruchnicka, editing by Ed Osmond and Louise
Heavens)
((anna.pruchnicka@thomsonreuters.com; +48 58 769 65 14;))