22nd Apr 2021 11:02
(Alliance News) - Domino's Pizza Group PLC saw "exceptional" trading in the first quarter, it reported on Thursday.
Revenue for the first quarter grew to GBP371.3 million, up 19% from the same period last year. The increase was likely driven by national lockdowns pushing pizza delivery orders higher.
Domino's Pizza Group holds the master franchise for the UK and Ireland from US-based Domino's Pizza Inc.
Domino's Pizza said 6.8% growth in its pizza delivery business offset lower sales at its lockdown-impacted stores, which traded at 65% of 2019 levels.
"We are pleased with the strong performance of the business in the first quarter of the year," commented Chief Executive Dominic Paul
"The investments we are making to deliver our multi-year strategic plan give us confidence in our ability to capitalise on the opportunities which lie ahead as the nation begins to emerge from the Covid-19 lockdown restrictions. With management focused on our core UK and Ireland business, we are working to fulfil our vision of being the UK and Ireland's favourite food delivery and collection business."
Last month Domino's announced the sale of its Swedish and Icelandic businesses, which it expects to complete the disposal of in May.
Shares in Domino's were down 1.5% at GBP361.60 on Thursday.
By Will Paige; [email protected]
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