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Domino's profit up 15% in 2014

The Domino’s Pizza chain saw its underlying pre-tax profit climb by 15.1% to £54.8 million in the year to 28 December as the company benefited from strong growth in its core UK market.

GENERAL MERCHANDISE

Domino's profit up 15% in 2014

System increased by 14.6% to £766.6 million while like-for-like sales grew by 11.3% in its 724 UK mature stores.

The company opened 44 new stores and closed eight in the year to take the total to 894 in four countries at the year end.

Online system sales in the UK and the Republic of Ireland increased by 30.2% to £440 million with online sales accounting for 69.4% of delivered sales. Of this, 44.2% of online orders were taken through a mobile device compared to 30.9% in the previous year.

Domino’s chief executive David Wild said 2014 had been another strong year for the business, particularly in the UK.

He added: “Both UK like-for-like sales and new store performance were excellent and this has largely been driven by our sector-leading e-commerce initiatives.  Our renewed focus on franchisee profitability has also provided an impetus to continued growth.

“Outside the UK, we are pleased with progress in Ireland and Switzerland, both of which showed improvement.  In Germany, there remains much work to do, but underlying losses have reduced, in the second half and we remain optimistic about the opportunity in this market.”

Domino’s also gave an update on current trading saying that like for-like sales had climbed by 9.5% in the UK in the first eight weeks of 2015.

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