Trading Update (2788K)
July 13 2011 - 1:00AM
UK Regulatory
TIDMGBR
RNS Number : 2788K
Global Brands S.A.
13 July 2011
13 July 2011
Global Brands S.A. ("Global Brands" or "the Company")
Trading Update: H1 2011 Update
Global Brands S.A. (AIM: GBR), an international business
developing branded food operations in Europe, including being the
master franchise owner for Domino's Pizza in Switzerland,
Luxembourg and Liechtenstein, announces a trading update for the
six months ended 30 June 2010.
The total system sales - sales from Company-owned stores
("corporate sales") and sales by sub-franchisees - were up 15.4% on
the first six months of 2010 at CHF 7.7m. Total systems sales for
Q1 were CHF 3.9m, up 23.1% on 2010. In Q2, total system sales were
CHF 3.8m, up 8.4% on Q2 2010. As announced on 12 April 2011, total
corporate sales for the first quarter increased 15.5% to CHF 3.65m.
Q2 corporate sales were up 3.6% to CHF 3.6m on Q2 last year with
like-for-like sales showing a 1.7% increase on the same period last
year.
The slower growth in Q2 was due primarily to exceptional weather
conditions in Switzerland where Swiss Weather Central reported that
March to June 2011 had been the hottest months on record for that
period. In April, corporate sales were up 6.6% on April 2010. In
May, corporate sales were virtually flat on last year, despite the
"Mega Week" promotion, during which almost 40% more product was
sold compared to the same week last year and with lunchtime sales
up by almost 80%. Trading in June picked up again with corporate
sales up 4% on the year. Internet sales however bucked the general
quarterly trend with Q2 sales up nearly 40% on Q2 2010, accounting
for 23.7% of corporate sales in the quarter.
Bruce Vandenberg, CEO commented:
"While the second quarter sales performance was a little
disappointing, we believe that this was primarily due to unseasonal
weather conditions and the business remains capable of significant
growth. Trading at our existing corporate stores is expected to
pick up strongly in the autumn/winter which is historically our
best trading period. We have also completed the conversion of the
first Pizza Taxi store into a Domino's sub-franchise store and this
store is now trading in line with expectations. We will be
converting the other two stores over the next few months. In
parallel, we will be focusing on developing our lunch time sales
and internet business which we expect to show good growth in the
second half of the year. Finally, we remain committed to our
acquisitive growth strategy through the development of new
sub-franchises, new brands and geographic expansion and are making
progress in all these areas."
-Ends-
For further information:
Global Brands S.A.
Simon Bentley, Chairman Tel: (0) 20 7317 8022
Bruce Vandenberg, CEO www.globalbrands.ch
Libertas Capital
Thilo Hoffmann Tel: (0) 20 7569 9650
www.libertascapitalpartners.com
Alexander David Securities Ltd
Bill Sharp Tel: (0) 20 7448 9820
Fiona Kinghorn Tel: (0) 20 7448 9832
www.ad-securities.com
Financial Dynamics
Jonathon Brill Tel: (0)20 7831 3113
Caroline Stewart www.fd.com
Notes to Editors:
Global Brands is a public company incorporated under the laws of
Luxembourg and established in 1999. The company has been admitted
to trading on the AIM of the London Stock Exchange since 2005.
The Company is the owner and operator of the exclusive master
franchise of Domino's Pizza in Switzerland, Luxembourg and
Liechtenstein. Domino's Pizza is the world's leading pizza delivery
brand, with over 9000 stores in 63 markets.
Global Brands SA's stated strategy is to add additional
international brands to its portfolio.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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