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Domino's Pizza Q3 UK & ROI System Sales Climb; Sees FY Underlying Group PBT In Line With Market

Domino's Pizza Group Plc (DOM.L) reported Thursday that its third-quarter UK & ROI system sales went up 18.7 percent to 342.1 million pounds from last year's 288.2 million pounds. Like-for-like sales, excluding stores in split territories, grew 17.5 percent.

In the UK, system sales were up 19.6 percent, with the UK accounting for 95.1 percent of total UK & ROI system sales. UK like-for-like growth, excluding splits, was 18.3 percent, and 17.3 percent including splits.

The company noted that the UK government on July 15th changed the rate of VAT on hot takeaway food to 5 percent from 20 percent. For the weeks following the rate change, the VAT reduction benefitted UK reported system sales and like-for-like sales growth, however it has limited direct benefit to the company's profitability.

The company recorded exceptional digital performance, with UK online sales up 35.6 percent and ROI online sales up 18.0 percent. Online now accounts for 95.1 percent of delivery sales in the UK

ROI system sales in the quarter were up 3.6 percent on a reported basis and 3.1 percent in local currency. ROI like-for-like sales, in local currency, excluding stores in split territories, were up 2.0 percent, and up 1.5 percent including splits.

Looking ahead, Dominic Paul, Chief Executive Officer, said, "Despite the ongoing uncertain backdrop, we expect to report full year Underlying Group PBT in the range of £93m to £98m, in line with market consensus."

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