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Domino’s breaks £1b sales mark for the first time

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Domino’s breaks £1b sales mark for the first time

Domino’s sales broke the £1b mark for the first time in 2017 aided by the opening of 95 new branches.

Group sales saw a 15.1% increase to £1.2b in the year to 31 December, with pre-tax profits reaching £96.2m, according to the take away pizza and delivery company’s preliminary financial results.

Like-for-like sales were up 4.8% in 2017, a fall from 2016 which saw growth of 9.8%.

David Wild, Domino’s chief executive, said: “2017 has been a year of significant progress for Domino’s, despite the weaker consumer demand and cost inflation affecting the sector. Given this backdrop, I am particularly pleased with our performance.

“We continue to take a rigorous approach to capital allocation, balancing the long-term needs of the business with more immediate returns of value to shareholders through the ordinary dividend and share buybacks. The market continues to be competitive but the strength of our brand and scale, combined with the expertise of our franchisees, are important competitive advantages in delivering quality, convenience and value to customers.

“We continue to take share in the pizza delivery market, and the investment in our new supply chain centre in Warrington will leave us well placed to meet our ambition to get to at least 1,600 sites. I remain confident in the long term growth potential of the business.”

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