Domino's UK & ROI reports sales growth to £277.3 million for Q3
The pizza chain also launched their £25 million share purchase programme.
Domino’s has announced their financial report for the third quarter ending last September 30 with the system sales of the United Kingdom (UK) and Republic of Ireland (ROI) businesses up by 6.0% from the prior period’s £261.6 million to £277.3 million.
Group system sales totalled to be £303.3 million, 5.9% up from £286.4 million. Like-for-like sales in the UK also increased to 2.2%.
Online sales in the UK were also up by 11.4, which is said to represent 78.3% of total sales during the period.
ROI system sales also grew to 5.2% on a constant currency basis with like-for-like sales increased to 3.3%.
"Our businesses continue to trade well, despite the evident uncertainty among UK consumers, and hot weather across Europe for much of the quarter. [W]ith the opening of a further 20 stores in the UK this quarter; we are confident of reaching 60 stores for the year,” David Wild, Domino’s chief executive officer, said.
“In addition, given the strength of our balance sheet and the highly cash generative nature of the business, the Board has approved a further £25m of share buybacks, to commence immediately."
Domino’s also announced its BuyBack Programme to purchase up to £25 million of the their ordinary shares to reduce their share capital.
The pizza chain has entered in an agreement with the institutional stockbroker and corporate advisor Numis Securities to carry out the said programme.
