Domino's lifts YTD sales 10%

Domino's Pizza Enterprises (ASX:DMP) expects full year sales growth to be at the upper end of its 3% to 5% forecast, after reporting strong gains in the first four months.

The company, which is the master franchisor for Domino's stores in Australia and New Zealand, advised it had grown same store sales by 10.3% during the start of FY12.

But according to CEO Don Meij, “due to solid results from promotions from October to June last year, we have some very strong numbers to roll over for the remainder of the financial year,” he said.

He accordingly affirmed the company's guidance of 3-5% same store sales growth, as well as an increase in net profit of around 15% for the year.

Domino's Australian and New Zealand stores recorded 11.1% sales growth for the first four months.

The company is also the master franchisor for the brand in France, Belgium and the Netherlands, and saw its European same store sales increase 8.3% over this period.

Meij added that the company is on track to meeting its target of opening between 60 and 70 new stores during FY12, and has cut the ribbon on 12 new locations so far.

DOM shares grew 1.49% on Wednesday to $6.820.