Snowy weather has come up as an advantage for Domino's Pizza as it reported a 28% rise in underlying annual profits. The pushing up of comfort food on to the top of the needs by recession can also be crowned for this profit. The pizza delivery giant recorded a profit of like-to-like sales 11% up for the year 2009.
Across 501 stores opened for over a year, sales in 2009 increased to £407m and a pre-tax profit was recorded to be £41m. There was also a rise of 40% as compared to that last year in online orders with £78.5m of pizzas ordered online
Chief executive Chris Moore said, “Franchise pizza delivery group would now step up expansion to 55 stores after an exceptional year that saw like-for-like sales growth of 8.4%. 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”.
In the year to 27 December, the total sales for the group were 16% at £406.9m and its dividend elevated to 7.75p per share, with annual profits of £29.9m.
Terming the weather as mixed blessing Moore also added, “While encouraging people to stay at home, which is good for our business, the extent and severity of the conditions, caused large numbers of stores to cease deliveries to protect driver safety”.
