After being sent the most disgusting pizza I have ever tried to eat by my local Domino's a few months ago, I have vowed never to order from them again - especially as I don't think they're that cheap, either.
But judging by the latest trading news from the UK's leading pizza delivery franchise, I am in a minority. The company said that like-for-like sales in its 501 mature stores rose by 10.8 per cent in its third quarter - an acceleration of the growth rate seen in previous quarters - and that it was on track to beat full year market expectations despite "tough comparatives" before the year end. Its online sales grew 43.1 per cent, and now account for more than a quarter of all UK deliveries.
As a result, house broker Altium Securities has increased its full-year pre-tax profit forecast from £27.2m to £28m, giving earnings of 12.6p and a dividend of 7.5p a share. The broker points out that with strong trading and lower input price inflation, its profit forecast is now nearly 12 per cent higher than it was in January.
