WorldWide Papa’s, Plc.
WorldWide Papa’s Plc: WORLDWIDE PAPA’S ANNOUNCES 10%+ SYSTEM SALES GROWTH IN 2011
WorldWide Papa’s Plc / Key word(s): Final Results/Miscellaneous
Corporate Press Release PRESS RELEASE WORLDWIDE PAPA'S ANNOUNCES 10%+ SYSTEM SALES GROWTH IN 2011 WorldWide Papa's experienced 22% comparative sales growth in restaurants open more than 1 year driven by a 19% increase in customer transactions LONDON – April 02, 2012– WorldWide Papa's, Plc (FSE: 1PJ.F), the exclusive area developer of Papa John's International, Inc. restaurants in St. Petersburg and the Leningrad region of Russia, today announced revenues of EUR3.6 million for the full year 2011, a 10.2% increase from revenues of EUR3.3 million in 2010. Additionally, WorldWide Papa's saw significant growth in 2 of its 3 service platforms with a 17% growth in delivery business and 20% in carry-out sales. In 2011 sales were comprised of 45% delivery, 12% in carry-out and 43% dine-in purchases. Sales growth on a comp basis (stores open for more than one year) was 22.1% in 2011. This increase was made up primarily by a transaction increase of 18.9% and average ticket growth of 2.7% for the year. When asked about the 2011 results, Darrin Stock, WorldWide Papa's Founder and Chief Executive Officer stated, 'I think we're starting to see serious momentum in our business. As the global economy slowly climbs out of the long recessionary period, no place is better positioned to benefit from increased global demand and rising prices for oil and natural gas than the Russian middle class. In 2011, we were the Papa John's international market leader with the biggest comp growth rates in existing stores, so there's no reason to indicate 2012 won't be another banner year for the St. Petersburg market.' 'We had an amazing 2011 and we exceeded our projections for the year through the addition of new stores and improved operations in our existing stores', commented, Steve Kendall, COO and VP of Finance of WorldWide Papa's . 'We continue to see growth and acceptance of the Papa John's brand and business model in the Russian market. 2012 will be another big year for us, as we have plans to further ramp up our growth goals through the development of new stores and the addition of a second quality control center to our existing St. Petersburg network.' With plans in place to reach 40 stores by 2015, management expects additional store openings in 2012 to add to system sales growth for the business. Additionally, our long-term market experience shows us that revenue growth for existing stores, especially ones opened in 2011, will continue to improve over time. About WorldWide Papa's WorldWide Papa's, Plc is an international management company, formed in 2004, with exclusive area development rights to Papa John's International, Inc. restaurants in St. Petersburg, Russia and the Leningrad region. WorldWide Papa's opened its first Papa John's restaurant in St. Petersburg in 2005. The company currently operates restaurants in the region, with plans in place for reaching a total of 40 restaurants by 2015. Papa John's restaurants in St. Petersburg were recognized in 2010 and 2011 as the winning establishment in a local pizza taste-test competition, named as having the best pizza against the leading competitors in the marketplace. For more information about WorldWide Papa's visit http://www.worldwidepapas.com
Contact: Gary Hamilton ### End of Corporate News 02.04.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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