Domino's Pizza spots chance to grow
Expect to see yet more branches of Domino's Pizza dominating the high street: the chain today grew its expansion plans after annual profits shot up 28 per cent to £29.9 million.
Domino's raised its store-opening target by 10 per cent and intends to launch 55 new outlets in the UK every year, after chief executive Chris Moore said 2009 was an "exceptional" year.
Annual sales of specials such as Meatball Mayhem and Vegi Volcano rose 16 per cent on 2008, to £406.9 million.
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." He added that the recession had made a glut of property available "at sensible rents", leading to the acceleration of growth plans.
Of the 8,900 stores that Domino's runs around the world, eight out of the 10 best-performing are in Britain. The chain said it had benefited from the "SuBo - Susan Boyle - effect" after its sponsorship of Britain's Got Talent sent demand soaring.
Domino's, which has 608 outlets in the UK, also said more customers were ordering online, with internet sales hitting £78.5 million. The pizza maker shared a slice of its profits with investors, handing out a 7.75p dividend, up a third on last year.
