Investors in Domino’s Pizza franchise operator DP Poland (DPP:AIM) are celebrating the £31 million cap’s 13th consecutive quarter of like-for-like sales growth, with the shares up 6.3% to 25.3p.

The group looks to be winning in its struggle to get the Domino’s Pizza brand accepted by the Polish public, reporting like-for-like sales growth of 16% in 2015.

It has started 2016 strongly with like-for-like sales growth of 29% in January.

DPP - Comparison Line Chart (Rebased to first)

Its top three owned (as opposed to sub-franchised) stores made an average EBITDA (earnings before interest, tax, depreciation and amortisation) of £58,000 in 2015, up from £24,000 the previous year.

DP Poland has continued with its expansion plans, opening six new stores in five cities in 2015. It says has a pipeline for significant further store openings in 2016 in new and existing cities.

The company is still loss-making and the roll-out of new stores is expected to hit the bottom line before they reach break-even.

Its loss before tax in the first half of the year was £1.1 million, compared with £1.9 million the prior year.

Investors who are keen to see the group move into the black will need to be extremely patient.

Issue Date: 11 Feb 2016