Papa John's reports 22.3% operating profit growth for FY17
The growth is driven by the increased number of stores and like-for-like sales.
Papa John’s in the UK has announced their financial results for the year ending December 31, 2017 having their operating profit rose 22.3% with £6.3 million from £5.1 million last 2016.
Post-tax profits also took a 10.5% increase to £5.0 million from last period’s £4.6 million. Turnover saw a 19.0% growth with £67.3 million from £56.5 million. Online sales is said to be the industry’s significant area of growth.
The pizza chain also reported that they ended the period having 385 outlets in the UK, 32 more compared to the previous period’s 353.
“For the twelfth consecutive year, underlying comparable sales of our UK delco outlets grew. The pizza market does however remain intensely competitive with significant promotional discounting continuing to take place in 2018 as in prior years,” Papa John’s said in the report.
