Domino's Pizza shares surge after strong Q3 sale results
Domino’s Pizza Group revealed that its shares surged by 21% in its third quarter compared with a year earlier after the company delivered a strong rise in sales particularly in the UK and Europe.
The pizza company, which operates locations in the UK and Ireland as well as Iceland, Norway Sweden and Switzerland, announced a growth in sales by 20.8% to GBP£286.4mn.
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The UK’s biggest pizza delivery firm said that its UK sales saw a boost of 8.1% at stores that were open for more than a year, whilst online orders in the UK rose by 17.4%.
The UK growth comes as Domino’s Pizza Group reached a major landmark in the Group’s history, opening its 1,000th store in the country,
Meanwhile, in the rest of Europe, sales reportedly rose by 25% to GBP£24.8mn.
The company cited the opening of new stores and quirky additions to its menu including chocolate-covered pizzas as the reason for its growth.
Domino’s was the biggest rise in the FTSE 250, with the mid-cap index by 63.41 points at 20,165.97.
The company expects full-year capital expenditure to be in the lower end of the GBP$50mn-GBP£60mn range and for pre-tax profit to be at least in line with current market expectations.
The company said it would open 90 new stores in the UK this year, saying that there was a strong demand for delivered food in the UK despite the uncertain consumer environment.