Domino's stacks up profits

Television advertising and a shift in consumer tastes have helped increase turnover and profit at Domino's Pizza.

In the six months to 30 June, turnover at the company grew by 26.3% to £26.2m, compared with £20.8m in the first half of 2001. Pre-tax profit was up by 45.6% to £1.72m, against £1.18m a year earlier.

Chief executive Stephen Hemsley said that the group's positive performance was attributable to its "continued focus on the fundamentals of the Domino's Pizza system - product, service and image".

He added that a shift by consumers away from fast food and towards higher quality convenience foods and the group's continued use of national, terrestrial television advertising had also benefited Domino's.

During the period, the group opened 18 branches, including four in the Republic of Ireland, taking its total to 255.

Hemsley said the group still planned to have 500 stores by 2006 but said stringent planning requirements and strict selection criteria made finding property one of its "key challenges".