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DP Eurasia delivers 26 percent core profit growth in first half
September 19, 2017 / 7:17 AM / a month ago

DP Eurasia delivers 26 percent core profit growth in first half

(Reuters) - DP Eurasia, which operates the Domino’s Pizza brand in Turkey and Russia, served up a 26 percent growth in its first-half core earnings, driven by an increase in like-for-like sales and expansion of store networks in its key markets.

In its first financial results since its London Stock Exchange listing, DP Eurasia reported adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 39.4 million Turkish lira (8.3 million pounds) for the first half compared to 31.2 million lira a year before.

Its adjusted net result for the first half turned to a loss of 0.8 million lira from a profit of 11 million lira a year ago, impacted by foreign exchange loss of 7.3 million lira.

Its shares traded 2 percent higher at 185p in early business in London, down from a listing price of 200p three months ago.

DP Eurasia, the largest pizza delivery firm in Turkey and the third biggest in Russia by number of stores, increased its revenue by 39 percent to 289.8 million lira in the first half.

Its system stores sales, comprising retail sales in both its corporate and franchised stores, rose by 29 percent to 398.5 million lira.

The company, which opened its first store in 1996, currently operates 602 outlets and said is on track to open around 70 stores this year, with 40 slated for Russia.

Reporting by Anna Pruchnicka; Editing by Keith Weir

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