Domino’s gets bigger slice of market

DOMINO’S PIZZA, which has 45 outlets in Ireland saw an increase in sales over the last few months due to the cold weather which encouraged people to stay at home and order-in.

The pizza chain is continuing with massive expansion plans in which it aims to have 1,000 stores by 2017. It currently has 608 in Britain and Ireland.

Domino’s said like-for-like sales rose 8.6% in the 13 weeks to December 27. It forecast profits ahead of expectations and said it had created 1,500 jobs after opening a record 55 new stores over the last year.

Domino’s said it expects full-year 2009 profits will be “comfortably ahead” of current expectations as the company had an “exceptionally strong final quarter,” with like-for-like sales outperforming its expectations.

It said the downturn has given it an advantage in securing improved media advertising rates. High profile marketing campaigns have included the company’s sponsorship of ITV show Britain’s Got Talent.

Domino’s chief executive, Chris Moore said: “In 2009, and in particular due to an exceptionally strong final quarter, we have outperformed our predicted like-for-like sales, improved our margins and opened more stores than anticipated.

“With this in mind, I am delighted to announce that the company will deliver full-year 2009 profits comfortably ahead of current City expectations.”

Domino’s said it generated more business over the internet, with over a third of all orders taken online during one week in October.

Investec Securities analyst Joe Thomas said he remained optimistic about the company’s prospects.

Investec expects to add 5% to its profit forecasts, from the current prediction of £28 million for 2009 and £30.7 million this year.

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