Domino's Pizza profits up 33.1% in 2007
Domino's Pizza UK & IRL Plc has reported a pre-tax profit increase of 33.1 per cent up to 18.7 million during the full year 2007.
InterContinental 2007 profits up 19%The pizza delivery company, which runs 501 stores in the UK and Ireland, said that its like-for-like sales in 2007 went up by 14.7 per cent in 2007.
Chris Moore, the Chief Executive, said, "In 2007, Domino's Pizza recorded another year of excellent results with the opening of 50 new stores and exceptional like-for-like sales growth.
"The Company leveraged its relatively fixed cost base to generate record profits and, with strong operating cash flow and very little capital required by the business, we continued our programme of returning surplus cash to shareholders by way of share buybacks and record dividends."
Moore also noted that Domino's had had a favourable start to 2008, with like-for-like sales going up 11.0 per cent in the first six weeks of 2008.
"This is particularly encouraging given the strong comparatives of last year," he said "E-commerce has continued to show robust growth with an increase of 90.6% in the same period (2006:36.2%). E-commerce in the first six weeks accounted for 21% of all UK delivered sales.
Moore said that Domino's was "well positioned for another year of strong growth."
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