Domino’s sales increased with the opening of new stores
- Group revenue increases 19.6% for the six months to June 25
- Comparable systems sales increased 9.7% during the half
UK Domino’s Pizza franchise generated strong sales in the first half of 2023 thanks to new store openings, demand for deals and improved delivery times.
Domino’s group revenue rose 19.6% in the six months to June 25, from £278.3 million to £332.9 million, as it benefited from the launch of 29 new stores.
Comparable systems sales increased by 9.7%, from £710.5m to £766.4m, over the same period, up 8.2% in the last quarter.
Consequently, Domino’s expects to post underlying underlying profit of between £132 million and £138 million for the year, above previous forecasts of £127.6 million.
Domino’s said it benefited from store openings, customer demand for deals and better delivery times.
Total orders for the London-listed business were 35.4 million over the six months and Domino’s said business momentum has been “encouraging” through the first three weeks of the current half, with a like-for-like increase of 7.9 percent. hundred.
The group also revealed a new £70m buyback plan that will start after the ongoing £20m buyback the pizza business announced in May.
As of July 28, £13.9 million had been repurchased.
domino shares they were up 12.8 percent at 392 pence in late trading on Tuesday.
Elias Diaz Sese, Domino’s interim CEO, said: “We have delivered a strong first half of 2023 with continued growth in orders and sales.
“Thanks to our alignment with our brilliant franchise partners, we have been able to accelerate our progress on strategic initiatives established earlier in the year, with significant acceleration in store openings, increased app penetration and substantial improvements in delivery times.
“Today’s results are a testament to the hard work of our colleagues and franchise partners who have worked tirelessly to ensure that no one delivers like Domino’s.”
Andrew Rennie will permanently assume the role of CEO of the company starting next week.
In March, Domino’s received a record 18.5 million orders during the final three months of last year as the FIFA World Cup spurred a surge in takeout.
A total of 18.5 million transactions were made on the group’s platform during the fourth quarter of 2022, an increase of 4.1% over the previous year, with a decrease in deliveries offset by an increase of 27.9% in collection requests.
This followed a drop in demand over the previous six months amid cost-of-living pressures for consumers and the absence of Covid-19 restrictions encouraging people to eat in pubs and restaurants again.
