Domino's Pizza full year profit to be at lower end of consensus range
Domino’s Pizza has reported that group system sales rose by 5.8% to £339.5 million in its fourth quarter but has warned that it expects its full year underlying profit to be at the lower end of a consensus range.
In the UK and Republic of Ireland, system sales rose by 6.2% to £312.9 million as UK and Republic of Ireland like-for-likes increased by 4.5% and 7.5% respectively.
The company said it experienced its busiest ever week in the run-up to Christmas and performed particularly well online with sales up 10.8% in the period.
David Wild, Domino’s Pizza chief executive, said: "I'm pleased with the continued strong performance in the UK and Ireland, where we opened a further 59 stores. Many families decided to kick off the festive season with a Domino's, with the Friday before Christmas breaking all records as we sold more than 535,000 pizzas - equivalent to 12 every second.”
While there was a strong performance in the UK and Ireland, there were weaker sales internationally. As a result, Domino’s expects its full year underlying pre-tax profit to be at the lower end of the consensus range of £93.9 million to £98.2 million.
Wild added: “Our international businesses offer significant long-term potential, but we have experienced growing pains this year, particularly in Norway, where we have faced business integration challenges. Looking ahead, we will invest further in robust teams and infrastructure in our newer markets, to create a solid platform for profitable growth.”
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