X Factor viewers help pizza group to report better-than-expected profits
DOMINO’S PIZZA expects to serve up higher-than-expected profits after the X Factor helped it post tasty fourth-quarter sales.
The food chain reported an 18.2 per cent rise in sales across the group to £321.8m in the 13 weeks to December 24, while in the UK revenue increased 10.1 per cent to £294.7m.
UK like-for-like sales were up 6.1 per cent in the period, with Domino’s adding that the start of the X Factor final on December 2 acted as the “catalyst” for its biggest day of sales for the year.
A record 95 new store openings in the UK in 2017 also drove sales, Domino’s said, while it also booked full-year revenue growth of 8.7 per cent in Britain and Ireland.
Boss David Wild said that as a result, full-year underlying pre-tax profit is expected to be
The UK business has demonstrated its resilience. David Wild, chief executive of Domino’s Pizza
“slightly above” the current range of market expectations.
Shares were up over 3 per cent to 361p in morning trading as investors chomped on the news.
Mr Wild also said that the group, which trades from 1,045 stores, will open another 80 this year, creating 3,000 new jobs.
“We are pleased to report a good performance in quarter four, completing another year of significant progress and growth for Domino’s.
“With a record year for new store openings and continued like-for-like sales increases, the UK business has demonstrated its resilience in a challenging economic and competitive environment.”
The results come following a difficult period for Domino’s, which saw sales cool last year amid Brexit fears and as the weak pound squeezes finances.