Domino's Pizza sees full-year results ahead of expectations

For the 13 weeks to 27 September, like-for-like sales in the UK rose 14.9% to £200m, driven by the company’s continued investment in digital channels.

During the period, 12 new stores opened in the UK, bringing the total year to date to 33 and Domino’s said it remains on track to open a minimum of 50 stores in the UK in 2015.

Chief executive officer David Wild said: “We are delighted by this performance as our UK business goes from strength to strength, reflecting the success of our strategic and marketing initiatives.

"It represents the eighth consecutive quarter of double digit like for like sales growth as we continue to focus on delivering great food with great service, using our best in class digital platforms.”

Numis upgraded its 2015 pre-tax profit estimate by 5% to £68m following Domino’s update and said the 26.6x price-to-earnings ratio of the stock does not fully reflect the ongoing upgrade trend and the pace/quality of earnings.

The brokerage, which has a ‘buy’ rating on the stock, upped its price target to 1,100p from 1,000p and said it now expects pre-tax profit to rise 24% over the full year.

At 0910 BST, Domino's shares were up 16.3% to 1,030p.

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