Morning:
8°c
If eating in is the new dining out, then there seems a good chance that, rather than go to the trouble of stoking up the barbie, many households are instead picking up the phone and calling Domino's Pizza.
The 576-strong delivery chain may be churning out pizzas but its profits remain in rude health.
Domino's, whose profile will have not been damaged by being the sponsor of the Britain's Got Talent TV show that stopped the nation for a couple of weeks earlier this summer, today reported a 25% leap in profits to £13.6 million in the first half of the year.
Total sales were up 15% to £196 million as the company opened 50 new outlets over the past year.
More importantly, underlying like-for-like sales are up 7.1%. That is down from the rampant 11% a year ago but still represents a strong performance in a sector struggling as consumer spending gets crunched.
Chief executive Chris Moore said the figures were good in a period of economic turbulence, in light of the recent run of good weather and given that growth is over and above the strong comparatives from last year.
“The hot weather does have an impact on our business,” he said, “but sales start to come back after prolonged periods of warmer weather as the lure of the barbecue fades.”
He added that special offers over the summer “will ensure Domino's remains a regular part of our customers' culinary routine”.
