HONG KONG, Sept. 26, 2024 /PRNewswire/ -- DPC Dash – Domino's Pizza China ("DPC Dash" or the "Company") (1405.HK), Domino's Pizza's exclusive master franchisee in the China Mainland, the Hong Kong Special Administrative Region of China, and the Macau Special Administrative Region of China, today released its 2024 Interim Report.
(PRNewsfoto/DPC Dash Ltd)
In the first half of 2024, DPC Dash continued to execute its 4D strategy: Development, Delicious pizza at value, Delivery, and Digital. The Company experienced significant growth across all markets, driven by deeper penetration in existing cities and expansion into new ones. Revenue reached double-digit growth, and it was the first time that both net profit and adjusted net profit turned positive in the first half of 2024. DPC Dash continuously innovated product offerings to better serve customers and drove customer engagement through digital initiatives. Delivery remained a core part of the Company's strategy, while dine-in and carry-out services have experienced significant uptick.
"Our 4D strategy continues to drive our success in the China pizza market," Aileen Wang, chief executive officer of DPC Dash, said on a conference call discussing the 2024 interim financial results. "This is evident in our financial performance for the first half of 2024. Our total revenues reached RMB2.04 billion, a 48.3% increase year over year. We're proud to report our 28th consecutive quarter of positive same-store sales growth since the third quarter of 2017, when our current management team began its tenure. This consistent performance over seven years underscores the effectiveness of our strategy and the strength of our execution."
"The growth in the new growth markets has been the main driver for our overall growth already." Helen Wu, chief financial officer of DPC Dash, said on the call. The company has received many customer requests for new stores. "Given the wide space, we actually want to bring our product, make it more available to the customers in China nationwide."
DPC Dash will continue to look for opportunities in Shanghai and Beijing, while also exploring the market potential beyond the existing 33 cities currently served, Ms. Wang added. The company is well on track for the full year opening target of 240 new stores in 2024, and targets to open 300 to 350 stores each year in 2025 and 2026.
Certain statements in this document and/or the Announcement are forward-looking statements that are, by their nature, subject to significant risks and uncertainties. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, future events, or performance (often, but not always, through the use of words or phrases such as "will", "expect", "anticipate", "estimate", "believe", "going forward", "ought to", "may", "seek", "should", "intend", "plan", "projection", "could", "vision", "goals", "aim", "aspire", "objective", "target", "schedules", and "outlook") are not historical facts, are forward-looking and may involve estimates and assumptions and are subject to risks (including but not limited to the risk factors detailed in this document and/or the Announcement), uncertainties and other factors some of which are beyond the Company's control. Accordingly, these factors could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. The Company's forward-looking statements have been based on assumptions and factors concerning future events that may prove to be inaccurate. Those assumptions and factors are based on information currently available to the Company about the businesses that it operates. The risks, uncertainties and other factors, many of which are beyond the Company's control, that could influence actual results include, but are not limited to: the Company's operations and business prospects; its business and operating strategies and ability to implement such strategies; its ability to develop and manage its operations and business; its ability to control costs and expenses; its ability to identify and satisfy customer demands and preferences; the actions and developments of its competitors; general economic, political and business conditions in the markets in which it operates; and changes to regulatory and operating conditions in the industry and geographical markets in which it operates.
Any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited or under applicable law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events.
Since actual results or outcomes could differ materially from those expressed in any forward-looking statements, the Company's shareholders and potential investors are advised not to place undue reliance on the forward-looking statements and to exercise caution in dealing in securities in the Company.
About DPC Dash Ltd
DPC Dash is Domino's Pizza's exclusive master franchisee in the China mainland, the Hong Kong Special Administrative Region of China and the Macau Special Administrative Region of China. Domino's Pizza, Inc., DPC Dash's global franchisor, is one of the most widely-recognized global consumer brands and the world's largest pizza company. Led by a seasoned and visionary management team, DPC Dash is a market leader that differentiates from competitors with, among others, a continually developed and localized pizza-focused menu, unique expertise and leadership in delivery, technology focus and scalable and replicable store economic model. DPC Dash operates more than 900 stores in 33 cities in China as of June 30, 2024.
