(Sharecast News) - Domino's Pizza said it had a strong first quarter as delivery sales more than made up for fewer collections during the Covid-19 lockdown.
Sales in the UK and Ireland rose 18.7% to £371.3m in the three months to the end of March as like-for-like sales gained 18.5%, the FTSE 250 group said in a statement before its annual general meeting.
Delivery orders rose 6.8% as collections started to recover to trade at 65% of 2019 levels currently. Domino's business boomed during the Covid-19 crisis as families ate at home instead of going to restaurants.
Dominic Paul, Domino's chief executive, said: "We are pleased with the strong performance of the business in the first quarter of the year. The investments we are making to deliver our multi-year strategic plan give us confidence in our ability to capitalise on the opportunities which lie ahead as the nation begins to emerge from the Covid-19 lockdown restrictions."
Domino's shares fell 2.4% to 358.20 at 09:13 BST. The shares have gained about 18% since early March 2021.
Dominos (DOM)16 May 2024 09:57
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