Domino's delivers strong profits

Domino's pizza defies gloom with upbeat trading figures

Domino's Pizza has reported strong profits growth in 2008 after consumers looked to cheaper alternatives to eating out during the downturn.

Profits at the pizza firm in the UK and Irish Republic rose 24.7% to £23.4m, with like-for-like sales up 10%.

The company opened 52 new stores during the year and created 1,800 jobs, with total sales up 18.4%.

Fast food and home delivery chains are some of the few businesses profiting during the recession.

Indeed a third of the company's 2.7 million customers during the year were new customers.

The company has also seen a strong start to the new year, with like-for-like sales up 15% in the first six weeks of 2009.

Domino's plans to open another 50 new stores this year, taking the total number of Domino's outlets to over 600. It hopes to have at least 1,000 open within the next 10 years.