DP Poland, the Domino’s Pizza master franchise owner for Poland, succeeded in opening 12 stores in its first year.
The first store was opened in February 2011 and the focus is Warsaw. At the moment all of the stores are company-owned but the first sub-franchised stores should open in 2013 – ahead of expectations. A further three stores are planned in Warsaw this year. Poland is one of the hosts of the UEFA Euro 2012 championship and that could boost summer demand.
DP Poland generated revenues of £452,000 in 2011. The 12 stores were open for an average of three months last year. The loss was just short of £2m.
There was £874,000 in the bank at the end of 2011 but this does not include the £3.2m recently raised in a placing and open offer at 60p a share.
At 57p a share, DP Poland is valued at £14.5m.
JM Finn has taken its stake above 13%. The estate of the late Richard Worthington has sold down his stake.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMarch2012_30.pdf
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