DP Poland, the Irish-backed owner of the Domino’s Pizza franchise for Poland and Croatia, updated the market on its trading performance this week. The share bounced three per cent on the news. The trading update is superficially strong. DP Poland reported a sales increase of 20 per cent. But revenue doesn’t tell the whole story. First, the company acquired the Domino’s franchise in Croatia during the year. That means 2022 sales can’t be compared like-for-like with 2021 results. On a like-for-like basis, sales increased 21 per cent over the year. Having averaged 23.9 per cent growth in the first three quarters of 2022, sales…
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