35pc profit tops Domino’s pizza, delivering a delectable first half |
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Wed, 27 Jul 2005 06:05
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Profits at Domino's Pizza layered up after a scrumptious rise of 40% in dividends over the first half of the year, along with pre-tax earnings that soared by 35pc to reach £5.5m.
Domino's Pizza delivered a high 8.4% like-for-like sales growth, in addition to opening 23 new stores in this period, against 19 stores last year. Domino’s pizza now boasts of 380 stores.
Attributing the company’s strong performance to the record store openings, chief executive, Stephen Hemsley said that he wished to open about 800-1000 outlets in Britain and Ireland in 10 years, saying, “We're trying to open one store a week, that's 50 a year.” Hemsley added that new openings would operate on the same lines as the company’s present delivery venues.
Celebrating its 20th anniversary in Britain this week, Domino’s also reported £8.5m of cash reserves and a raised interim dividend of 3.1p a share on August 31 against 2.2p in 2004.
Meanwhile, Hemsley acknowledged that its hit product, cheese steak melt pizza that was launched in May and the double decadence cheese and tomato pizza launched in September had brought in these enticing results. Therefore, one could not confirm similar results in the second half of the year.
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