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Published on: July 11, 2024

Strong H1 trading

DPP has today issued a positive trading update for the six months to 30 June 2024. DPP has delivered 22% growth in like-for-like system sales in H1, with growth accelerating in Q2, which saw like-for-like system sales up 26.5%. The group is set to open 16 new stores this year, including four relocations. Average weekly order counts are heading towards the group’s target of 900, having reached over 850 per store in Q2. The strategy of a clear value proposition for customers, with high-quality pizza delivered quickly, is working. Management expressed confidence in DPP’s ability to meet market expectations for the year, and we are maintaining our forecasts. With growing evidence of the returns and growth that own-managed stores can generate, DPP is well placed for the transition to the sub-franchisee model, and the even greater growth and returns that it entails.

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