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Domino's Pizza UK & IRL serves up record profits

March 16, 2005

Ireland Online: Pizza delivery chain Domino's served up record profits for 2004, but said a shortage of new franchisees had stopped it hitting its annual store opening target.

The group, which runs 357 stores in the Ireland and the United Kingdom on a franchise basis, said pre-tax profits leapt by more than a third to £8.8 million (U.S. $16.9 million) in the 53 weeks ended Jan. 2, 2005.

It said its strategy of opening more stores to boost turnover was paying off, with total sales in 2004 lifting by £32 million (U.S. $61.5 million) to £174.3 million (U.S. $335.4 million) after it launched 40 new outlets.

However, Domino's said it had failed to hit its target of matching the 50 stores opened in 2003 due to planning difficulties and a lack of suitable franchisees in its target regions.

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