Dominoes chief executive Don Meij told shareholders at the annual general meeting  the company was “fortressing” the business by opening more stores and maximising investment.
Dominoes chief executive Don Meij told shareholders at the annual general meeting the company was “fortressing” the business by opening more stores and maximising investment.

Secret ingredient to Domino’s massive slice of food market

PIZZA giant Domino's has boosted its network sales by 10.6 per cent so far this financial year thanks to a rapidly expanding reach across Europe.

The pizza chain has opened more than two stores each week this year and said the expansion, particularly in Germany, was behind the sales boost.

On a same-store basis, growth was at 4.1 per cent for the first 17 weeks of the new financial year.

Chief executive Don Meij told shareholders at the annual general meeting in Brisbane today the company was "fortressing" the business by opening more stores and maximising investment.

Details of the general meeting presentations were lodged about ten minutes before the market closed this afternoon.

Domino's CEO Don Meij said the company was “fortressing” its business by expanding. Pic: Annette Dew
Domino's CEO Don Meij said the company was “fortressing” its business by expanding. Pic: Annette Dew

Domino's shares closed down 0.3 per cent to $50.80 ahead of the meeting.

"We now have more than 1000 Domino's branded stores in our European business and are well on our way to opening 1000 Domino's stores each in France and Germany; two large pizza markets that will deliver growth to this business for many years ahead," Mr Meij said.

"At this time our outlook for the medium term is unchanged; we expect to open new stores at the rate of seven to nine per cent of our group network annually and grow group same-store sales at the rate of three to six per cent.

"Through continued digital innovation, operational excellence, and a focus on giving our customers the meal quality, ordering experience and fast service they have come to expect, we believe we are on track for another successful year."

Domino's paid shareholders a final dividend of 52.8 cents per share fully franked.



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