Domino's accelerates growth target
Published: 22 February, 2010
Domino's Pizza has increased its store openings target for 2010 to 55 per year after unveiling sharply increased profits.
Listed franchise pizza business Domino's has stepped up its growth plans after a strong performanc ein 2009. In the 52 weeks ended 27 December 2009 it achieved a pre-tax profit of £29.9m, up 27.8% on the previous year's £23.4m. Sales were up 16.0% to £406.9m.
The company opened 55 opened new stores in the year, against 52 stores in 2008: taking the UK estate to 608 stores. And it plans to open the same number again in 2010.
Chief Executive Officer, Chris Moore, said: “There is a strong desire for expansion by our existing franchisees as well as a significant number of new franchisees wishing to enter the system. This demand, combined with our recent successes in smaller locations and the availability of good properties at sensible rents, has led us to accelerate our store opening plans and move our expectations from 50 to 55 new stores each year.”