Robust Q3 sales for Dominos

Domino's Pizza Group plc has released its Q3 Trading Statement covering the 13 weeks to 30 September 2018.

Group system sales were up by 5.9% to £303.3m, and UK system sales grew by 6.1% and UK LFL sales rose by 2.2% to £277.3m.

During the period, the company opened 23 new outlets, including 20 in the UK. The group operates 1,236 stores in total.

Stores are to hire 5,000 additional Christmas colleagues to provide great service to customers.

David Wild, Chief Executive Officer, said, 'Our businesses continue to trade well, despite the evident uncertainty among UK consumers, and hot weather across Europe for much of the quarter.

'I'd like to thank our franchisees for their ongoing commitment to the development of the Domino's brand, with the opening of a further 20 stores in the UK this quarter; we are confident of reaching 60 stores for the year.

'In our international operations, we are making good progress on refining the operating model and cost base, and we expect Group Underlying Profit Before Tax for the 2018 year to be in the middle of the range of market expectations.

'In addition, given the strength of our balance sheet and the highly cash generative nature of the business, the Board has approved a further £25m of share buybacks, to commence immediately.'