PIZZA DELIVERY firm Domino’s Pizza UK IRL Plc said yesterday its sales growth had accelerated in the fourth quarter and its 2011 profit would be in line with market expectations.
Domino’s, which operates the British and Irish franchises of the global delivery brand, said sales at its 604 shops open more than a year were up 3.6 per cent in the fourth quarter to December 25th, with UK sales up 4 per cent and sales in Ireland down 1 per cent.
For the year as a whole, comparable sales were up 3 per cent. The company has benefited through the economic downturn from customers staying in and ordering takeaways rather than going out to eat in restaurants. Offers such as “Two for Tuesday”, a buy-one-get-one-free deal, have proved particularly attractive.
New chief executive Lance Batchelor, who took up the role on St Stephen’s Day, said the company had achieved good sales growth despite toughening sales comparatives and last year’s VAT rise. Shares in Domino’s lost over a quarter of their value last year having trebled over the previous two years. The shares closed at 413.8 pence yesterday, valuing the business at £671 million. – (Reuter)
