DP Eurasia on track to hit forecasts in 2018 as Russia and Turkey continue to gobble up pizza
Russians can't get enough Domino's pizzas if the latest numbers from DP Eurasia N.V. (LON:DPEU) are anything to go by.
The £250mln company is the master franchisee of the popular pizza brand in Russia, as well as in Turkey, Azerbaijan and Georgia.
Strong growth in all regions
Sales were strong across all of its territories, but Russia was the standout performer. Sales in the eastern European country jumped 68.8% to 152.7mln Turkish lira (₺) (£23.9mln) in the first half of the year (H1 17: ₺90.5mln).
On a like-for-like basis, which excludes the impact of store openings and closures, Russian sales climbed 18% in the opening six months.
In Turkey, DP Eurasia's biggest market in terms of sales, revenue climbed 15.6% year-on-year to ₺351.6mln (H1 17: 304.1mln).
Azerbaijan and Georgia make up a smaller slice of the pie, but growth was also strong there with sales soaring almost 60% to ₺6.1mln (H1 17: ₺3.9mln).
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