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Tue 19th Jul 2016 - Update: SSP Third Quarter results, Domino’s Poland
SSP reports sales up 3% on like-for-like basis in Third Quarter: UK-based transport hub foodservice specialist SSP Group has reported total group revenues for the period from 1 April 2016 to 30 June 2016 increased by 4.8%, with like-for-like sales growth of 3% and net contract gains of 1.8%, compared with the same period last year. At actual exchange rates, given the weakening of sterling against major European currencies compared with the same period in the prior year, total Group revenues increased 9.0% year-on-year. The company stated: “Like-for-like sales in the third quarter in the UK were robust and continue to benefit from passenger growth in the air sector. In Continental Europe the picture remains mixed, with good performances in Spain and a weaker trading environment in France and Belgium resulting from the on-going impact of the geopolitical incidents in Paris and Brussels and industrial action. In North America, good like-for-like sales growth is being driven by passenger growth in the air sector. In the Rest of the World, like-for-like sales continue to be impacted by the fall in passenger numbers in Egypt and the on-going slowdown in passenger growth in China. For the nine month period from 1 October 2015 to 30 June 2016, total Group revenues increased by 5.5% on a constant currency basis, including like-for-like sales growth of 3.2%, net contract gains of 1.9% and a further 0.4% arising from the additional leap year day. At actual exchange rates, total Group revenues increased 6.0% year-on-year. The second half of the financial year has started in line with our expectations. Whilst a degree of uncertainty always exists around passenger numbers in the short term, we are well placed to continue to benefit from the structural growth opportunities in our markets and to create further shareholder value. Trading results from outside the UK are converted into sterling at the average exchange rates for the period. The overall impact on revenue of the movement of foreign currencies (principally the euro, US dollar, Swedish krona, and Norwegian krone) during the first three quarters of 2016 compared to the 2015 average was +0.5%. If the current spot rates were to continue for the rest of 2016, we would expect a positive effect for the full year of approximately +3.0%.”

Domino’s Pizza Poland reports like-for-likes up 28% in First Half: Domino’s Pizza Poland has reported like-for-like sales rose 28% in the First Half to 30 June 2016. Total system sales were up 57%. Five new stores opened, including two new cities. Pipeline of store openings for the second half. There are currently 28 Domino’s Pizza stores in six Polish cities, Warsaw, Krakow, Wrocław, Gdansk, Szczecin and Zielona Gora, 17 corporately managed and 11 sub-franchised. The company has now seen 15 consecutive quarters of double digit like-for-like system sales growth. A new sub-franchisee JAR acquired its first store in April and opened its second store in June. Another sub-franchisee HLM acquired its fourth store in July. 69% of delivery sales are now online. Peter Shaw, chief executive of DP Poland said: “Strong like-for-likes coupled with the better than anticipated sales performance of our newer stores delivered robust growth in total system sales. Growth in sales, corporate store Ebitda and commissary contribution underpin our confidence in our accelerated store roll-out programme. In the first half we opened five Domino’s stores and added two further cities. We have a pipeline of store openings in place for the second half in both existing and new cities. Our franchisees are active in growing their store numbers and I anticipate further sub-franchise openings and acquisitions in the near future.”

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