The English owner of Domino's Pizza has forecast a small increase in profits for 2023 – similar to the US-based group – and profits for 2024 will be in line with expectations.
British Domino's Pizza Group, North American Domino's Pizza Inc. The company's owner is targeting sales of two billion pounds (about 2.3 billion euros) by 2028 as it grows the number of stores in the UK from around 1,300 to 1,600. Over the next four years.
According to the “Reuters” agency, the English version of Domino's Pizza predicts a slight increase in profits in 2023 – just like the US-based group – and profits for 2024 will be maintained accordingly. Expectations, thanks to lower prices of raw materials.
In 2023, the group sees £1.5 billion (around €1.8 billion) and 3.6% underlying core profit growth of £138.1 million (around €161.4 million).
The North American group, which trades on Wall Street, published its accounts two weeks ago, which showed a positive net result of 157.3 million dollars (144 million euros), a decrease of 0.6% compared to 2022.
“Our strong fourth quarter demonstrates that our 'hunger for more' strategy is already paying off. This strategy, which we recently revealed at Investor Day, is our plan to deliver more sales, more stores and more profitability,” Domino's CEO commented in a press release accompanying the financial report.
“Positive transactions in the US and comparable sales growth in the carryout and delivery channels in the fourth quarter underscore the strength and momentum of the business,” Russell Weiner believes. “These results give us confidence in the brand and the company's ability to win and create significant value for shareholders,” he added.
Domino's board of directors approved a 25% increase in the quarterly dividend to $1.51 per share and green-lighted an additional $1 billion share buyback plan.
