In the FT18 Feb 2009 08:36
DOMINO'S PROFITS RISE 25 PERCENT AS FAMILIES STAY IN
Profits at Domino's Pizza soared by 25 percent last year, exceeding City expectations. The group recorded pretax profit of 23.4 million pounds in the 12 months to December 28, while total sales were 18.4 percent higher at 350.8 million pounds. The company said its results were helped by an increase in advertising spend as it exploited the growing tendency for people to stay at home and watch TV over the weekends. The company sponsors ITV's 'Britain's Got Talent' and plans to increase advertising spend from 18 million pounds to 20 million pounds. Chief executive Chris Moore described the group's strategy as 'one of those wonderful virtuous circles: the more we spend, the more sales increase, and the more we are able to spend next year'.