Companies: DOM   

Shares in the pizza delivery play put on 1.5p to 89p after chief executive Stephen Hemsley unveiled a spanking set of interims to the end of June. System sales, 'the greatest driver in this business' according to Hemsley, sparked up 24.6% to £57.8m. Operating profits powered ahead 41.3% to £1.9m. This meant that profits at the pre-tax level baked up an impressive 45.6% to £1.7m, on turnover of £26.2m (£20.8m). In the first half, 18 stores were opened. The group now has 258 stores in the UK and Ireland. Hemsley has set a target of 500 stores by 2006. 'The business is rapidly approaching a position where all major infrastructure costs and royalty increases due to Domino's in the US have been absorbed.' He adds: 'Profits should accelerate now we've got that fixed-cost base in place.' For the current year to December, KBC Peel Hunt analyst Paul Hickman has pencilled in a £3.75m pre-tax profit on £51.1m sales, giving earnings of 4.9p a share. On a prospective p/e of 18.2, the shares are not cheap. But it is one to invest in if you are 'passionate about pizza' and believe others also are. Such consumers should provide the growth the company requires to live up to this healthy rating.