StockMarketWire.com - Poland-based pizza stores operator DP Poland reported wider annual losses as a slump in margins offset revenue growth.

The company also provided DP an update on performance for the five month through 31 May 2021, showing a fall in system an 8% fall in sales compared with the same period in 2019, and a 1% decline compared with 2020.

'Dine in business significantly impacted by Covid-19 restrictions but takeaway sales continue to perform strongly, up 6% year to date in 2021,' the company said.

For the year ended 31 December 2020, pre-tax losses widened to £5.8 million from £3.5 million year-on-year, while revenue increased by 7% to £15.0 million.

System sales were up 5% to £17.4 million.

The loss of driven by a 'significant increase in non-cash and non-recurring items, which totalled approximately £2.3m (2019: £0.2m), incurred during the year,' the company said.

Margin fell to 1.7% from 9.8%.

Like-for-like growth in system sales was 5% compared to 2019, with 85% of delivery sales coming from online orders, in line with 2019.

The company had 69 stores at the end of 2020.


Story provided by StockMarketWire.com