Companies: DOM   

Aim-listed pizza delivery concern Domino's Pizza posted a bullish trading statement today, revealing that like-for-like sales for the final nine weeks of the year were 8.2 per cent ahead. James Crux reports.

Domino's, which expects to officially unveil its preliminary figures for the year ended 31 December 2000 in February, reports that sales for the period are up by 19.9 per cent to £76 million (1999: £63 million). Encouragingly, Domino's seems to have enjoyed a buoyant pre-Christmas trading period. Like-for-like sales grew by 8.2 per cent, up from the 4.7 per cent incline experienced in 1999.

In the run up to Christmas, 3.4 per cent of the group's sales were achieved over the web at www.dominos.co.uk, or via interactive TV. During 2000, 22 new delivery stores were rolled out and two closed, leaving the leisure, entertainment and hotels listed outfit with 215 stores at year-end.

Back last February, in the first set of maiden figures following its November 1999 float, the group posted sales of £25.6 million and pre-tax profits of £1.8 million. House broker Seymour Pierce is looking for pre-tax profits of £2.15 million when it reports last year's figures next month, with £2.6 million to follow in 2002. 'The company can squeeze more out of the existing stores', claims one bullish analyst.

Investor interest breathed some life into the shares, which gained 4p or 10 per cent to close up at 44p, a new high for 2001. The shares traded on a previous high of 40p and a low of 33.5p.