Yorkshire Post - - BUSINESS -

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.

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