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Thu 11th Feb 2016 - Enterprise reports strong start to year
Enterprise reports strong start to year: Enterprise Inns has reported, in an AGM update, a ‘strong start ‘to the financial year with like-for-like net income in the leased and tenanted estate growing by 1.6% for the 19 weeks to 6 February 2016. This performance has been achieved as a result of stabilising rental income, growing income from beer sales and driven by the provision of operational support and commercial benefits to our publicans. The company said: “The execution of our strategic plan for the business, announced on 12 May 2015, is on track. The trading performance and expansion of our managed house operations is progressing in line with our plans and we expect to have in excess of 100 managed houses operational by 30 September 2016. In addition we continue to grow our portfolio of quality commercial properties and expect to have over 300 such properties by the financial year end.” Chief executive Simon Townsend said: “We are pleased to have made a strong start to the year, delivering continued growth of our leased and tenanted business, and this provides us with confidence that we are on track to deliver our expectations for the full financial year. Furthermore, we have made good progress executing our operational strategy while recruiting and developing the organisational capabilities necessary to achieve our strategic objectives.”

Domino’s Pizza Poland reports 13 consecutive quarters of growth: Domino’s Pizza Poland has reported 13 consecutive quarters of double digit like-for-like system sales growth. Total stores Ebitda was positive every month in 2015. There are currently 24 Domino’s Pizza stores in five Polish cities, Warsaw, Krakow, Wrocław, Gdansk and Szczecin, 16 corporately managed and 8 sub-franchised. Like-for-like system sales were up 16% in the year to 31 December 2015. Like-for-like gross profit was up 27% and like-for-like order count was up 14%. The three top corporate stores averaged £58,000 Ebitda each in 2015 versus £24,000 each in 2014. There were six new store openings in five cities: Warsaw, Krakow, Wrocław, Gdansk and Szczecin, with more stores currently under construction and a pipeline of significant further openings planned for 2016. Double digit like-for-like system sales growth has continued through January 2016 at 29%. Chief executive Peter Shaw, said: “Like-for-like sales continued to deliver double digit growth and total stores were Ebitda positive every month in 2015, a notable milestone for Domino’s Pizza in Poland. We now have stores in five Polish cities, further stores under construction and a pipeline for significant further openings in 2016 in new and existing cities. The contribution from our new commissary is ahead of expectations, delivering improved food costs and growing sales to sub-franchised stores. 2016 has started strongly with robust like-for-like system sales growth in January.”

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